Dow Jones Industrial Average Extends Streak of Record Highs After Jobs Report

A solid payrolls report also helped the S&P and Nasdaq higher

Emma Gilkey
Aug 4, 2017 at 4:32 PM
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The Dow Jones Industrial Average (DJIA) ended higher for a ninth straight session, and notched an eighth straight record high, as stock traders applauded a strong July jobs report. It's the Dow's second-longest winning streak in just over a year. Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) also managed to end the day higher, though the tech-rich Nasdaq failed to log a weekly win.

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

The Dow Jones Industrial Average (DJIA - 22,092.81) closed at an all-time high, adding 66.7 points, or 0.3%. Nineteen of the Dow's 30 stocks ended higher, led by Goldman Sachs stock's 2.6% jump. Walt Disney stock paced the 11 decliners, giving up 1.3%. For the week, the Dow surged 1.2%.

The S&P 500 Index (SPX - 2,476.83) gained 4.7 points, or 0.2%. The tech-heavy Nasdaq Composite (COMP - 6,351.56) edged 11.2 points, or 0.2%, higher. For the week, the SPX gained 0.2%, while the COMP dropped 0.4%.

The CBOE Volatility Index (VIX - 10.03) slipped 0.4 point, or 3.9%. The "fear gauge" gave up 2.8% on the week.

Closing Indexes Summary August 4

NYSE and Nasdaq August 4

5 Items on Our Radar Today

  1. Google has reportedly been developing a program akin to Snapchat's Discover,. The new "Stamp" project -- which would provide real-time news from possible publishers like CNN or The New York Times -- could launch as early as next week. (CNBC)
  2. The U.S. Drug Enforcement Administration (DEA) has made a proposal to cut 20% of production on the most common opioids next year, to help battle the current opiate epidemic the U.S. The cut would be focused on reducing the number of overdose deaths, which kill more than 140 Americans a day. (Reuters)  
  3. The restaurant stock hit hard by analysts.
  4. Traders brace for another big move by NVIDIA stock.
  5. 2 drug stocks option bears are piling into.

Corporate Earnings Chart August 4
Unusual Options Activitly August 4
Data courtesy of Trade-Alert

Commodities

Oil futures settled higher on the day, after Baker Hughes reported a drop in the weekly domestic rig count. Strong jobs data also helped boost hopes for oil demand. September-dated crude finished Friday up 55 cents, or 1.1%, at $49.58 per barrel. However, oil prices suffered a weekly loss of 0.4%.

Gold futures ended lower today, as the dollar gained ground after the July jobs report. December-dated gold ended the day down $9.80, or 0.8%, at $1,264.60 an ounce. For the week, the malleable metal lost 0.4%.

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