It was a 10th straight daily win for the DJIA
After a brief spell in negative territory, the Dow Jones Industrial Average (DJIA) ultimately ended higher for a 10th straight session, and notched a ninth straight record high. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) also managed to crawl their way higher, with the latter outperforming as tech stocks rallied, and despite escalating tensions with North Korea.
Continue reading for more on today's market, including:
- 2 drug stocks making monster moves.
- Options traders brace for another violent Valeant earnings reaction.
- 2 retail stocks that generate big bucks for options buyers.
- Plus, Netflix's big buy; the cell phone stock Goldman says to sell; and the food delivery stock flirting with record highs.
The Dow Jones Industrial Average (DJIA - 22,118.42) touched a record high of 22,121.15 in intraday trading, before finishing with a gain of 25.6 points, or 0.1%. Fourteen of the Dow's 30 stocks ended higher, led by Apple's 1.5% rally. United Technologies paced the 16 losers, dropping 2.4%.
The S&P 500 Index (SPX - 2,480.91) gained 4.1 points, or 0.2%. The tech-heavy Nasdaq Composite (COMP - 6,383.77) rallied 32.2 points, or 0.5%.
The CBOE Volatility Index (VIX - 9.93) slipped 0.1 point, or 1% -- the VIX's first close beneath 10 since July 26.
5 Items on Our Radar Today
- GOP Senator Chuck Grassley, chairman of the Judiciary Committee, is ramping up the panel's investigation into President Trump's involvement with Russia, as well as the firing of former FBI chair James Comey. Grassley said he is simply an "equal-opportunity overseer," who would be "doing it if Obama was president." (Bloomberg)
- Healthcare provider Anthem said it will no longer offer services in Nevada's Obamacare program, citing uncertainty over the fate of subsidies that keep costs low, which were threatened by Trump last week. This is only another hit among the numerous states that have lost access to Anthem through their Obamacare exchanges. (CNBC)
- Behind Netflix's big buy.
- Goldman: Sell this cell phone stock.
- The food delivery stock flirting with record highs.
Data courtesy of Trade-Alert
Commodities
Oil ended lower today, as Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members meet to discuss production-cut compliance. September-dated crude finished down 0.4%, or 19 cents, at $49.39 per barrel.
Gold futures ended slightly higher after fluctuating above and below the breakeven mark. December-dated gold settled up 10 cents at $1,264.70 per ounce.