Dow Nabs Fourth Straight Win as RUT Retreats

Easing supply worries boosted oil prices today

by Karee Venema

Published on Jul 10, 2018 at 4:27 PM

The Dow jumped at the open and never looked back, as strong days for consumer staples stocks Procter & Gamble (PG) and Walmart (WMT) helped lift the blue-chip index to its fourth straight win. The S&P also brought its daily win streak to four on a positive earnings reaction for PepsiCo (PEP). Meanwhile, the Nasdaq lost steam in afternoon trading, but still eked out a win, though the Russell 2000 Index (RUT) closed lower, after touching an all-time peak in intraday action.

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

  • Maxim says to buy this penny stock.
  • This solar stock could be ripe for a short squeeze.
  • Behind today's surge in Stitch Fix options volume.
  • Plus, Tesla's big move in China; the energy stock flashing a bullish options signal; and iRobot gets downgraded.

The Dow Jones Industrial Average (DJI - 24,919.66) came within striking distance of the 25,000 mark today, closing up 143.1 points, or 0.6%. Procter & Gamble paced the 25 advancers with its 2.5% gain, while Walgreens Boots Alliance (WBA) led the four decliners with its 0.8% loss. American Express (AXP) finished flat.

The S&P 500 Index (SPX - 2,793.84) settled near its session high, up 9.7 points, or 0.4%. The Nasdaq Composite (IXIC - 7,759.20) was up more than 21 points at its intraday peak, before closing with a slimmer 3-point, or 0.04%, gain.

The Cboe Volatility Index (VIX - 12.64) edged down 0.05 point, or 0.4%.

Closing Indexes Summary July 10

NYSE and Nasdaq Stats July 10

5 Items on Our Radar Today

  1. A U.S. federal judge has ruled in favor of allowing lawsuits alleging chemical company Monsanto's Roundup causes cancer. Monsanto was bought out by Germany's Bayer in early June. (Reuters)
  2. The number of job openings in the U.S. fell to 6.64 million from a record high 6.84 million in May, according to the Labor Department's Job Openings and Labor Turnover Survey (JOLTS). The report also showed the "quits rate" among workers rose to 2.4% -- its highest point since 2001.  (MarketWatch)
  3. Tesla stock rose today on news the car company is building a high-capacity plant in China.
  4. This energy stock just flashed a bullish options signal.
  5. iRobot stock got downgraded at Raymond James on valuation concerns.

Corporate Earnings July 10

Unusual Options Activity July 10

Data courtesy of Trade-Alert

Dollar Puts Pressure on Gold Prices

Oil prices got a boost, as reports of worker strikes in Norway and Gabon eased fears of a global supply glut. At the close, August-dated crude was up 26 cents, or 0.4%, at $74.11 per barrel.

Gold futures retreated as the U.S. dollar gained ground. Gold for August delivery shed $4.20, or 0.3%, to settle at $1,255.40 an ounce.

VIX Options Signal Points to Possible Volatility Spike
VIX open interest is at an annual low
Altaba Stock May Be Sending Up a Buy Signal
AABA has seen some unusual options activity in the past couple of weeks
VFC Call Options Hot Ahead of Fiscal First-Quarter Earnings
VFC stock touched an all-time high earlier today
From Schaeffer's Pro Traders
Weekly Options Secrets Revealed

Direct from our Schaeffer's traders, your FREE guide to winning with weekly options!


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

Trading Earnings Releases with Options
There are several “conventional” methods of trading earnings that most option traders are taught... Sponsored by TheoTrade
NHTC, AA, MRSN Stocks Suffer Nasty Pullbacks
A Chinese investigation is sinking NHTC
Alphabet Kicks Off Busy Week of Big-Cap Earnings
Dow components and FAANG stocks will be in focus next week
Trading Earnings Releases with Options
There are several “conventional” methods of trading earnings that most option traders are taught... Sponsored by TheoTrade