Dow Rallies Triple Digits as Oil Stocks Soar

Oil managed to reach its highest close in 3 years

Managing Editor
Jan 11, 2018 at 4:28 PM
facebook X logo linkedin

Stocks resumed their 2018 rally today, with all three major indexes reaching a fresh record high. The impressive gains can be mostly accredited to the energy sector, with Chevron (CVX) stock leading the Dow's triple-digit rally. Traders also digested the latest inflation data, and Walmart (WMT) plans to boost wages and expand employee benefits following tax reform. Looking ahead, Wall Street will have its eye on the banking sector tomorrow, with JPMorgan Chase (JPM) set to kick off earnings season.

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

The Dow Jones Industrial Average (DJI - 25,574.73) picked up 205.6 points, or 0.8%, after peaking at 25,575.42. Chevron led the 26 Dow winners with a 3% gain, and American Express (AXP) paced the losers with a 0.5% loss.

The S&P 500 Index (SPX - 2,767.56) added 19.3 points, or 0.7%, while the Nasdaq Composite (IXIC - 7,211.78) gained 58.2 points, or 0.8%. Both indexes closed at all-time highs.

The CBOE Volatility Index (VIX - 9.88) managed to pick up 0.1 point, or 0.6%.

Closing Indexes Summary Jan 11

NYSE and Nasdaq Stats Jan 11

5 Items on Our Radar Today

  1. The U.S. Treasury Department revealed the new tax withholding tables, to show how much will be taken out of employees' paychecks when the new tax law goes into effect. Treasury Secretary Steve Mnuchin estimated that about 90% of workers will see more take-home pay. (CNBC
  2. Ford has issued an urgent warning to Ford Ranger owners to stop driving them until an airbag part can be replaced. The defective Takata inflator has been linked to at least 21 deaths worldwide in various car makes and models. (Reuters)
  3. SunPower stock flashes a 'buy.'
  4. Beware this Dow stock before earnings next week.
  5.  Xerox options are cheap amid partnership rumors.

Corporate Earnings Jan 11

Unusual Options Activity Jan 11

Data courtesy of Trade-Alert

February Oil and Gold Top Fresh Highs

Oil reached another three-year high today, as traders continued to digest an eighth straight weekly drop in domestic crude supplies. February-dated crude finished up 23 cents, or 0.4%, at $63.80 per barrel.

Amid hawkish comments from the European Central Bank (ECB), the U.S. dollar gave up ground against the euro, sending the price of gold higher. February-dated gold futures managed a $3.20, or 0.2%, lift, to settle at $1,322.50 per ounce. 


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI