Bank Stocks Help Dow Bounce Back

However, Amazon's pharmacy purchase sent Walgreens stock reeling

Managing Editor
Jun 28, 2018 at 4:26 PM
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The Dow ended the day on a high note, up almost 100 points and erasing an early triple-digit deficit thanks to resurgent blue-chip bank stocks. Despite the rebound, the benchmark is still staring up at its 200-day moving average for the fourth straight day -- a first since March 2016. The S&P 500 and Nasdaq ended in the black too, with the latter powered by (AMZN) and its headline-grabbing purchase of PillPack. However, Amazon's foray into pharmacy dragged on several healthcare stocks, including new Dow member Walgreens (WBA).

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

  • The best stocks for the third quarter.
  • What the GLD death cross could mean for gold bugs.
  • Square stock could stay hot.
  • Plus, a rare XLU signal flashing; 2 sinking healthcare stocks; and Chipotle's bad day.

The Dow Jones Industrial Average (DJI - 24,216.05) added 98.5 points, or 0.4%. Verizon (VZ) led the 25 blue-chip advancers with its 3.1% gain, while Walgreens paced the five losers with its 9.9% slide.

The S&P 500 Index (SPX - 2,716.31) tacked on 16.7 points, or 0.6%  and the Nasdaq Composite (IXIC - 7,503.68) gained 58.6 points, or 0.8%.

The Cboe Volatility Index (VIX - 16.85) gave back 1.1 points, or 5.9%.

closing indexes summary june 28

nyse and nasdaq stats june 28

5 Items on Our Radar Today

  1. Just over a week after Starbucks (SBUX) issued a lackluster sales forecast, CFO Scott Maw abruptly announced his retirement, effective in November. No details were given behind the resignation. Earlier this year, former CEO Howard Schulz announced his departure as well, which will be effective this week. (CNBC)
  2. In an effort to increase the transparency of political ads, social media giants Twitter (TWTR) and Facebook (FB) launched features to help users identify who is behind the campaigns. Both entities will have databases that house all ads, while Facebook took it one step further and allows users to see listings of all active campaigns, political or not. (Reuters)
  3. This XLU signal hasn't flashed since 2009.
  4. Why these 2 healthcare stocks were buried today.
  5. Chipotle stock was crushed after its conference call.

stock market earnings june 28

unusual options trading june 28

Data courtesy of Trade-Alert

Oil Stays Hot; Gold Drops Fourth Straight

Oil continued its ascent, fueled by concerns that threats of U.S. sanctions could lead to a drop in Iranian crude exports. August-dated crude futures added 69 cents, or 1%, to settle at $73.45 per barrel, its highest close since November 2014.

Gold futures slipped once more today, despite a cooling dollar. August-dated gold futures lost $5.10, or 0.4%, to end at $1,251 an ounce, its fourth straight decline.



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