Dow Secures Historic 71st Record Close

Trading volume was light with one session left in 2017

Managing Editor
Dec 28, 2017 at 4:25 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) finished higher today, securing a historic 71st record close of 2017 -- the most ever in a calendar year. Meanwhile, both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) finished higher as well, boosted by a strong day for financial and tech stocks. Elsewhere, gold and copper futures extended their recent hot streaks, while bitcoin stirred up controversy in South Korea.

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

  • Buy these FAANG stocks now.
  • Should you buy into the Dogs of the Dow theory? Schaeffer's Senior Quantitative Analyst Rocky White takes a look. 
  • Activist: This stock will rally thanks to bitcoin.
  • Plus, a successful oil trade; an energy stock to avoid; and a tough day for 2 bitcoin stocks.

The Dow Jones Industrial Average (DJIA - 24,837.51) finished 63.2 points, or 0.3% higher, for its 71st record close of 2017. UnitedHealth (UNH) led 23 Dow stocks higher with its 1.1% win, while Coca-Cola (KO) paced six decliners with its 0.5% loss. Nike (NKE) finished flat.

The S&P 500 Index (SPX - 2,687.54) finished 4.9 points, or 0.2%, higher. The Nasdaq Composite (IXIC - 6,950.16) added 10.8 points, or 0.2%. 

The CBOE Volatility Index (VIX - 10.18) shed 0.3 point, or 2.8%.

 

Closing Indexes Summary Dec 28

NYSE and Nasdaq Dec 28

5 Items on Our Radar Today

  1. Tech investing fund SoftBank Group reportedly purchased a massive Uber stake. According to The Wall Street Journal, SoftBank will acquire 15% of the ride-sharing company, and values Uber at $48 billion. Despite Uber's struggles this year that included a CEO change and sexual harassment claims, the company is eyeing an initial public offering (IPO) in 2019. (CNBC)
  2. Initial jobless claims were muted last week at 245,000, defying expectations for a slight dip. Although unemployment claims are higher now than they were in the summer, they are 5% lower year-over-year. In addition, the number of Americans who applied for benefits this year is pacing for its lowest total since 1973. (MarketWatch)
  3. The oil stock that rewarded options bulls.
  4. History says sell this energy stock.
  5. What South Korea's crypto crackdown did to 2 bitcoin stocks.

 

There are no quarterly earnings to report.

Unusual Options Activity Dec 28
Data courtesy of Trade-Alert

Commodities

Crude slated for February delivery rose 20 cents, or 0.3%, to close at $59.84 per barrel. The U.S. Energy Information Association (EIA) reported domestic crude supplies dipped by 4.6 million barrels last week, and signs of strong demand for oil imports in China also lifted black gold. 

February-dated gold futures added $5.80, or 0.5%, to settle at $1,297.20 an ounce -- the highest close since Oct. 16, and a ninth straight winning session. Another retreat from the greenback lifted the dollar-denominated asset. Elsewhere, copper futures once again flirted with four-year highs.

 

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