Apple Rally Boosts Nasdaq

Escalating trade tensions and DowDuPont earnings kept the DJI in check

Managing Editor
Aug 2, 2018 at 4:20 PM
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The Dow was down more than 200 points at its session low, but ultimately finished the day flat, as another banner day for Apple (AAPL) helped overshadow escalating trade tensions with China and ugly DowDuPont (DWDP) earnings. In fact, the Nasdaq extended its win streak following another positive day of tech trading, with Apple reaching a $1 trillion market cap. Looking ahead, traders are anticipating tomorrow's nonfarm payrolls report.

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

  • Micron stock's must-see bull signal
  • This software stock could jump 40%, according to Citi.
  • One analyst says buy this biotech now
  • Plus, Morgan Stanley sees more upside in Nike; 2 soaring healthcare stocks; and how GS options traders just scored a massive profit in 4 days. 

The Dow Jones Industrial Average (DJI - 25,326.16) shed 7.7 points, or 0.03%, after falling as low as 25,120 in intraday trading. Thirteen blue chips closed the day higher, led by Apple for a second day in a row, which picked up 2.9%. DowDuPont paced the 17 decliners with a 2.2% drop.

The S&P 500 Index (SPX - 2,827.22) gained 13.9 points, or 0.5%, while the Nasdaq Composite (IXIC - 7,802.69) dominated with a 95.4-point, or 1.2%, gain.

The Cboe Volatility Index (VIX - 12.19) lost 1 point, or 7.3%.

us market closing prices aug 2

nyse and nasdaq stats aug 2

5 Items on our Radar Today

  1. The Transportation Security Administration (TSA) is receiving a slew of backlash, after revealing a study done during the past two months to see how much would be saved in costs if they removed security screenings at 150 of the smallest U.S. airports. While no decision has been made, the study showed a savings of $115 million per year. (CNBC)
  2. According to Facebook (FB), the company spent $7.33 million on founder and CEO Mark Zuckerberg's security in 2017. This year, the social media powerhouse expects to give another $10 million for protection. This lofty number compares to Amazon's (AMZN) Jeff Bezos' security expenditure of $1.6 million, and Las Vegas Sands' (LVS) CEO Sheldon Adelson's $3.9 million. (Bloomberg)
  3. Nike stock just scored a lofty price target.
  4. Analysts weighed in on these 2 surging healthcare stocks
  5. How subscribers locked in a 100% profit on this blue chip.

corporate earnings aug 2

unusual options volume aug 2

Data courtesy of Trade-Alert

Oil Rebounds on Report of Fallen Stockpiles

Crude futures rebounded after a report today surfaced that suggested U.S. crude stockpiles in Cushing, Okla., fell last week. September-dated oil gained $1.30, or 1.9%, to close the session at $68.96 per barrel. 

Gold settled at a more than 12-month low, as the U.S. dollar picked up steam. December-dated futures finished down $7.50, or 0.6%, to close at $1,220.10 per ounce.


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