Nike, GE Lift Dow; Russell 2000 Hits All-Time High

GE shares grabbed their highest settlement since mid-March

Josh Selway

May 16, 2018 at 4:26 PM

Stocks managed modest gains today, overcoming early fears surrounding North Korea. A huge earnings reaction from Macy's (M) sparked a rally in the retail sector, guiding Nike (NKE) shares to a record high. The Dow got a boost from General Electric (GE) stock as well, which enjoyed its highest close in two months. While the S&P 500 Index and Nasdaq also managed positive finishes, the Russell 2000 Index (RUT) may have stolen the show, as the small-cap barometer notched an all-time high.

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

A hedge fund upped its stake in this chip stock by 1,300%.
2 video game stocks with options on sale.
Why Square stock gapped higher today.
Plus, penny stock rallies again; a rare volatility signal; and hedge fund targets a struggling retailer.

The Dow Jones Industrial Average (DJI - 24,768.93) was up almost 100 points at it session peak, closing with a 62.5-point, or 0.3%, gain. NKE's 2.6% rally paced the 19 Dow gainers, and GE was close behind with a 2.2% gain. Of the 11 losers, 3M (MMM) suffered the biggest setback, sliding 1.1%.

The S&P 500 Index (SPX - 2,722.46) added 11 points, or 0.4%, and Nasdaq Composite (IXIC - 7,398.30) picked up 46.7 points, or 0.6%.

The Cboe Volatility Index (VIX - 13.42) dropped 1.2 points, or 8.3%.

Closing Indexes Summary May 16

NYSE and Nasdaq May 16

5 Items on Our Radar Today

Facebook CEO Mark Zuckerberg has accepted an invitation to meet with members of the European Parliament. Zuckerberg is expected to address questions surrounding privacy and user data following the company's Cambridge Analytica scandal. (Reuters)
Leaders of the Senate Intelligence Committee said today that Russia meant to boost Donald Trump's chances during the 2016 election. Separately, President Trump's financial disclosure filing indicated he "fully reimbursed" attorney Michael Cohen for Stormy Daniels hush money. (CNBC)
Blink shares soared for second time in two weeks.
Inside the volatility signal not seen in years.
The hedge fund calling for big changes at GameStop.

Data courtesy of Trade-Alert

Oil Gains Again; Gold Bounces Back

Oil prices pared early losses to end the day higher, thanks in part to another decline in domestic crude inventories last week. June crude futures finished up 18 cents, or 0.3%, at $71.49 per barrel.

Gold prices bounced back after a big Tuesday loss. June gold added $1.20, or 0.1%, and closed at $1,288.80 an ounce.

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