Dow Jones Industrial Average Recovers After Trump Jr. Email Controversy

25 Stocks to Sell This Week

Managing Editor
Jul 11, 2017 at 4:35 PM
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The Dow Jones Industrial Average (DJIA) finished a hair higher today, erasing a triple-digit drop incited by the knee-jerk reaction to Donald Trump Jr.'s emails, which indicated the Russian government wanted to provide dirt on Hillary Clinton during the 2016 election. Helping stocks recover was news that the Senate is delaying its summer recess by two weeks, and another up day for tech stocks ushered the Nasdaq Composite (COMP) higher. However, the S&P 500 Index (SPX) ended slightly lower. Looking ahead, traders are awaiting Fed Chair Janet Yellen's round in D.C., with the central banker kicking off two days of testimony tomorrow.

Continue reading for more on today's market, including:

  • 25 stocks to sell this week, if past is prologue.
  • This machinery stock saw crazy options volume ahead of earnings.
  • Calls flew off the shelves for Square stock.
  • Plus, the energy stock up 51%; Darden stock's potential; and one of the best ETFs to own July.

The Dow Jones Industrial Average (DJIA - 21,409.07) gained 0.6 point, after trading in a range of more than 160 points. Fourteen of the Dow's 30 stocks ended in positive territory, led by a 1.3% gain for General Electric. Nike stock paced the 15 Dow laggards, losing 0.9%, while DuPont stock finished flat.

The S&P 500 Index (SPX - 2,425.53) shed 1.9 points, or 0.1%. The Nasdaq Composite (COMP - 6,193.31) added 16.9 points, or 0.3%.

The CBOE Volatility Index (VIX - 10.89) shed 0.2 point, or 2%.

Closing Indexes Summary JUly 11
NYSE and Nasdaq July 11

5 Items on Our Radar Today:

  1. Tesla is ramping up its auto service centers as it prepares for the demand of its Model 3, which was first brought into production on Monday. The electric car company is adding 100 service centers, 1,400 technicians, and 350 mobile service vans to account for what it expects to be a 500% increase in sales. (Reuters)
  2. U.S. wholesale inventories increased 0.4% in May, marking the biggest gain since December 2016, and topping the Commerce Department's earlier estimates of 0.3% growth. The number is an improvement from April, where there was a 0.4% decline. Auto inventories also jumped, rising 0.7% after falling 1.4% in April. (CNBC)
  3. Halcon Resources stock barreled 51% higher after a massive asset sale.
  4. This sector is one of the best to own in July, historically.
  5. Tailwinds could blow Darden stock even higher.

Corporate Earnings July 11
Unusual Options Activity July 11
Data courtesy of Trade-Alert

Commodities

Oil rose today, as the Energy Information Association (EIA) lowered its U.S. production forecast for 2018, and data showed European crude stockpiles fell in June. The news helped offset lowered oil-price forecasts from a handful of banks. August-dated crude futures rose 64 cents, or 1.4%, to settle at $45.04 per barrel.

Gold ended higher today, its second straight session in a row, amid political uncertainty and ahead of Fed Chair Janet Yellen's testimony to Congress. August-dated gold futures rose $1.50, or 0.1%, to settle at $1,214.70. 

 

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