The blue-chip index was up over 100 points in early trading
The Dow Jones Industrial Average (DJIA) finished higher today, but ended well off its intraday peak -- and fell short of a record-setting 71st all-time closing high for 2017. Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) also finished in the black, led by energy and bank stocks. Traders cheered pledges by big-cap companies to boost wages after the Republican tax plan, and the focus now turns to Friday's spending-bill deadline to avoid a government shutdown.
Continue reading for more on today's market, including:
- The rare stock signal not seen in five years.
- Altaba stock could be flashing "buy."
- How Nike options traders won big ahead of earnings.
- Plus, Voya's record high; the blockchain stock that more than doubled; and more trouble for Chipotle.
The Dow Jones Industrial Average (DJIA - 24,782.29) finished 55.6 points, or 0.2%, higher. Chevron (CVX) led 15 Dow stocks higher with its 3.3% win, while Intel Corp (INTC) paced the 15 decliners with its 1.7% loss.
The S&P 500 Index (SPX - 2,684.57) finished 5.3 points, or 0.2%, higher. The Nasdaq Composite (IXIC - 6,965.36) added 4.4 points, or 0.1%.
The CBOE Volatility Index (VIX - 9.62) lost 0.1 point, or 1%.
5 Items on Our Radar Today
- Blue-chip aerospace company Boeing (BA) is reportedly engaged in discussions of a "potential combination" of businesses with Brazilian aircraft manufacturer Embraer. While nothing is official, such a deal would need approval from the Brazilian government. (Reuters)
- The White House is reportedly considering Larry Lindsey, a former economic advisor to President George W. Bush, for the Fed's vice chair position. Lindsey was also a former governor of the Federal Reserve from 1991-1997. Former Vice Chair Stanley Fischer vacated the seat back in October. (CNBC)
- The asset sale that sent Voya stock to a new record high.
- An unexpected new blockchain stock more than doubled today.
- Chipotle stock is in hot water once again -- but not with some analysts.
Data courtesy of Trade-Alert
Commodities
Crude slated for February delivery rose 27 cents, or 0.4%, to close at $58.36 per barrel. Black gold erased early losses, despite reports that the North Sea pipeline is expected to reopen in early January.
February-dated gold futures added $1, or 0.1%, to settle at $1,279.70 an ounce. Limiting gold gains was optimism about tax reform, which whetted the collective appetite for riskier assets.