Dow Jumps 197 Points as VIX Falls Further

Oil prices rose again, and gold snapped its losing streak

by Josh Selway

Published on May 10, 2018 at 4:26 PM

The Dow rallied nearly 200 points today, nabbing a sixth straight win and its highest close in three weeks. Soft inflation data sparked the risk-on session, with stocks also benefiting from an extended push higher from oil prices. The Nasdaq and S&P had even bigger days on a percentage basis, thanks in part to a strong showing from the tech sector -- namely semiconductor stocks, which gained ahead of this evening's Nvidia earnings release. As a result, the VIX suffered again, falling for a sixth straight session.

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

The Dow Jones Industrial Average (DJI - 24,739.53) had a strong showing today, closing up 197 points, or 0.8%, with 29 of the 30 Dow components closing with gains. The biggest winner was Exxon Mobil (XOM), which gained 2.2%, and the lone loser was Nike (NKE), as shares of the athletic apparel company dipped 0.04%.

The S&P 500 Index (SPX - 2,739.53) rose 25.3 points, or 0.9%, while the Nasdaq Composite (IXIC - 7,404.98) added 65.1 points, or 0.9%.

The Cboe Volatility Index (VIX - 13.23) closed down 0.2 point, or 1.4%, and briefly dipped below 13.  

Closing Indexes Summary May 10

NYSE and Nasdaq May 10

5 Items on Our Radar Today

  1. House Democrats today released thousands of Russian-bought Facebook ads from before the 2016 election. The ads were centered around a number of sensitive topics, such as racial divisions, illegal immigration, and care for veterans. (USA Today)
  2. Obama-era net neutrality rules are set to end on June 11, according to the Federal Communications Commission (FCC). The FCC voted to overturn net neutrality rules back in December, and a number of states and other groups have since sued to prevent the change. (Reuters)
  3. Roku stock is pacing for its best week of the year.
  4. These 2 FAANG stocks have cheap options.
  5. How Dick's Sporting Goods just flashed a "buy" signal.

Corporate Earnings Chart May 10

Unusual Options Activity May 10

Data courtesy of Trade-Alert

Oil, Gold Prices Climb

Oil prices again ticked higher, overcoming losses from early in the day. June-dated crude futures added 22 cents, or 0.3%, and closed at $71.36 per barrel.

Gold snapped a four-session losing streak today, as the dollar softened following the inflation data. June-dated gold rose $9.30, or 0.7%, to end at $1,322.30 an ounce.

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
Spotify Stock Shaky as Amazon Eyes Podcasts
Amazon's interest in podcasts puts SPOT in focus
AZO Shifts Higher After Earnings
AutoZone's fiscal third-quarter results beat estimates
One New Company Looks Ready To Clean Up On China’s Lithium Mess
Click to continue to advertiser's site.