Walmart Helps Dow to Best Day in Months

It was the Dow's biggest percentage gain since April

Managing Editor
Aug 16, 2018 at 4:21 PM
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The Dow gave its best performance since April today, finishing up nearly 400 points on the back of impressive earnings from Walmart (WMT) and Cisco Systems (CSCO). Easing trade war concerns also sent stocks higher, after the U.S. and China announced plans to resume trade talks later this month. Against this backdrop, the S&P and tech-heavy Nasdaq also ended comfortably higher. 

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

  • This industry could be Amazon's next victim.
  • Options traders locked in a 100% profit on this mining stock just
  • Analyst: The "gold standard" of the healthcare industry.
  • Plus, 3 entertainment stocks swarmed by options traders; the biopharma to avoid; and one analyst's prediction for Boeing.

The Dow Jones Industrial Average (DJI - 25,558.73) rose 396.3 points, or 1.6%, after being up more than 444 points at its intraday peak. Walmart stock led the 27 advancing blue chips with a 9.3% gain, while Intel (INTC) paced the 3 decliners with a 0.6% drop.

The S&P 500 Index (SPX - 2,840.69) picked up 22.3 points, or 0.8%, while the Nasdaq Composite (IXIC - 7,806.52) gained 32.4 points, or 0.4%. 

The Cboe Volatility Index (VIX - 13.45) shed 1.2 points, or 8.1%, for the day. 

us stock market closing summary aug 16

nyse and nasdaq stats aug 16

5 Items on our Radar Today

  1. Based on data from Freddie Mac, the average 30-year fixed-rate mortgage fell by six basis points to 4.53% during the past week, as mortgage rates tumbled with bond yields. As such, many analysts think housing will weigh on economic growth in the short term. (MarketWatch)
  2. The popular anti-allergy drug EpiPen, developed by Mylan, is facing its first generic competition following Teva Pharmaceuticals' approval from the Food and Drug Administration (FDA). The FDA nod comes amid the Trump administration's efforts to find more cost-effective drugs for consumers. (Bloomberg)
  3. This trio of entertainment stocks was blitzed by options traders.
  4. Steer clear of this biopharma stock.
  5. Why one analyst thinks Boeing stock could soar 55%.

corporate earnings aug 16

unusual options volume aug 16

Data courtesy of Trade-Alert

Gold Extends Losses, Oil Rebounds

Worries over U.S. stockpiles simmered, allowing crude to push higher in today's trading. September-dated oil picked up 45 cents, or 0.7%, to settle at $65.46 per barrel, snapping a three-day losing streak. 

Gold finished off its session lows, amid news of China-U.S. trade talks, but still ended in the red. December-dated gold futures shed $1, or 0.1%, to settle at $1,184 an ounce.

 

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