Dow Ekes Out a Win Thanks to Travelers

The Dow erased a triple-digit deficit to score a record closing high

Katie Coburn
Oct 19, 2017 at 4:34 PM
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After spending most of the day weighed down by Apple (AAPL) stock -- which suffered its worst day since August -- the Dow Jones Industrial Average (DJIA) managed to erase a triple-digit deficit to eke out a small gain, extending its winning streak to a fifth session. Thanks to impressive earnings from Travelers (TRV) and Verizon (VZ), the index secured a fresh record close. The S&P 500 Index (SPX) also managed to claw its way to a record closing high at the buzzer. However, the Nasdaq Composite (IXIC) didn't fare so well as Black Monday turned 30, dragged down by a pullback in tech stocks.

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

  • Buy calls on these 2 biotech stocks, if past is prologue.
  • How options traders scored a profit on this Dow stock.
  • Why options players are bracing for the worst ahead of General Electric earnings.
  • Plus, how one speculator scored big on Valeant; behind Adobe Systems stock's record high; and why Juno Therapeutics stock could be flashing 'buy.'

The Dow Jones Industrial Average (DJIA - 23,163.04) ended with a gain of 5.4 points, or 0.02%, after being down more than 100 points at its session low. While TRV led the pack of 20 Dow gainers with an 2.4% gain, AAPL paced the 10 losers with a 2.4% drop.

The S&P 500 Index (SPX - 2,562.10) also erased an early drop, ending up 0.8 point, or 0.03%. The Nasdaq Composite (IXIC - 6,605.07) ended down 19.2 points, or 0.3%.
 
The CBOE Volatility Index (VIX - 10.05) lost 0.02 point, or 0.2%.

Closing Indexes Summary Oct 19
NYSE and Nasdaq Stats Oct 19

5 Items on Our Radar Today

  1. Cities across the country are competing to be chosen as home for Amazon's second headquarters, which will create an estimated 50,000 jobs in the selected city. New Jersey even offered $7 billion in tax breaks to the online retailer, but Moody's expects Austin -- home to Amazon-owned Whole Foods -- to win. (Reuters)
  2. Under Armour launched its first subscription service called ArmourBox. Subscribers will receive outfits on a regular basis that are hand-selected by stylists to fit their lifestyle and sporting needs. (CNBC)
  3. How a put trader bagged a huge profit from Valeant stock's slide.
  4. Behind Adobe Systems stock's record high.
  5. Inside Juno Therapeutics' latest 'buy' signal.


Corporate Earnings Oct 19

Unusual Options Activity Oct 19
Data courtesy of Trade-Alert

Commodities

Crude closed lower today, despite concerns about reduced production from the Iraqi Kurdish pipeline. November-dated oil futures ended down 75 cents, or 1.4%, at $51.29 per barrel.

Meanwhile, gold closed higher today, as the U.S. dollar's rally lost steam, and as traders sought safety in tangible assets. December-dated gold ended up $7, or 0.6%, at $1,290 an ounce -- breaking its three-day losing streak.


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