Dow, S&P Score All-Time Highs, Fifth Straight Weekly Gain

Stock traders seemed to shrug off new threats from North Korea and uncertainty about the Iran nuclear deal

Oct 13, 2017 at 4:34 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) notched another record high, and secured a fifth straight weekly gain, as traders cheered strong retail sales and a rally in tech stocks. The S&P 500 Index (SPX) also wrapped up a five-week winning streak -- its longest since February -- and, along with the Nasdaq Composite (IXIC), scored a fresh all-time high of its own. Stock traders remained optimistic in spite of a mixed round of bank earnings and a rough day for healthcare stocks, and seemingly shrugged off new threats from North Korea and uncertainty surrounding the Iran nuclear deal. Underscoring this upbeat mood among investors, the latest University of Michigan consumer sentiment index touched a 13-year high in the first half of October.  

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

  • Is the red-hot S&P 500 about to cool off? 
  • 2 mining stocks that could be flashing 'buy.'
  • Verizon stock is looking to buck the sector trend.
  • Plus, a bad day for Valeant; the scam that lifted steel stocks; and how to simulate stock ownership with options.

The Dow Jones Industrial Average (DJIA - 22,871.72) hit a record high of 22,905.33 in early trading, but ended with a gain of 30.7 points, or 0.1%. Leading the pack of 18 Dow gainers was American Express (AXP) with a 1.4% gain, while Verizon Communications (VZ) paced the 12 losers with a 1% drop. For the week, the Dow gained 0.4%.

The S&P 500 Index (SPX - 2,553.17) touched a record high of its own at 2,557.65, before closing up 2.2 points, or 0.1%. The Nasdaq Composite (IXIC - 6,605.80) ended up 14.3 points, or 0.2%, after notching a record intraday high of 6,616.58. For the week, the SPX and IXIC gained 0.1% and 0.2%, respectively.
 
The CBOE Volatility Index (VIX - 9.61) lost 0.3 point, or 3%, and dropped 0.4% on the week.

Closing Indexes Summary Oct 13
NYSE and Nasdaq Stats Oct 13

5 Items on Our Radar Today

  1. Activists from 131 organizations are asking Apple to remove games from its app store that feature characters based on Filipino officials who fight criminals. The civil groups claim the games are insensitive to the Philippines' war on drugs and normalize the "government's disregard for human rights principles." (Reuters)
  2. Ford Motor is offering free repairs to owners of more than 1.4 million Explorer SUVs in North America to prevent deadly exhaust gases from entering the vehicles while driving. (Reuters)
  3. Behind the Valeant Pharmacueticals stock slide.
  4. The steel scam that sent Cleveland-Cliffs stock soaring.
  5. How to use options to mimic the risks and rewards of buying stocks. 


Corporate Earnings Oct 13
Unusual Options Activity Oct 13
Data courtesy of Trade-Alert

Commodities

Crude closed at a two-week high today, with a 4.4% weekly gain, after strong data on Chinese crude imports and growing uncertainty regarding Iran's nuclear deal. November-dated oil futures ended with a gain of 85 cents, or 1.7%, at $51.45 per barrel.

Gold posted a second consecutive win, after a U.S. inflation reading came in lower than expected. December-dated gold ended up $8.10, or 0.6%, at $1,304.60 an ounce, with a weekly gain of 2%. It was gold's first weekly win in five weeks.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI