Dow, S&P Snap Losing Streaks as Apple, Amazon Rally

Surging FAANG stocks drove markets higher today

Managing Editor
Sep 27, 2018 at 4:26 PM
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U.S. stocks finished higher today, led by a renewed charge from FAANG stocks Apple (AAPL) and Amazon (AMZN). Traders also digested a slew of economic data and kept a close eye on the congressional testimony of Supreme Court nominee Brett Kavanaugh and his accuser, Dr. Christine Blasey Ford. While the Dow snapped its three-day losing streak and the S&P 500 Index closed higher for the first time since last Thursday, the Nasdaq outperformed its peers to notch its third win of the week.

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

  • This retail stock is flashing reliable "buy" signals. 
  • Options bulls have flocked to BlackBerry stock ahead of earnings.
  • This red-hot cybersecurity stock has cheap call options.
  • Plus, behind a winning options trade; a surging metals stock; and another earnings blow for this retailer.

The Dow Jones Industrial Average (DJI - 26,439.93) finished up 54.7 points, or 0.2%. Of the 30 Dow components, 17 had a winning session, with Apple (AAPL) taking the top spot with its 2.1% rise. DowDuPont (DWDP) paced the 13 losers, down 2.3% at the close.

The S&P 500 Index (SPX - 2,914.00) added 8 points, or 0.3%, and the Nasdaq Composite (IXIC - 8,041.97) gained 51.6 points, or 0.7%.

The Cboe Volatility Index (VIX - 12.41) fell 0.5 point, or 3.7%, to snap its three-session win streak.

Closing Indexes Sept 27

NYSE and Nasdsaq Sept 27

5 Items on our Radar Today

  1. U.S. mortgage rates rose for a fifth straight week to their highest point in over seven years. The average rate for a 30-year fixed mortgage rose to 4.72% this past week, and some economists are predicting rates will reach 5% before the end of the year. (Bloomberg)
  2. President Donald Trump postponed his meeting with Deputy Attorney General Rod Rosenstein to next week. Rumors of Rosenstein's possible dismissal emerged earlier this week, though Trump said in a press conference on Wednesday, "My preference would be to keep him." (CNBC)
  3. How short sellers helped options bulls win big on this tech stock
  4. This metals stock had its best day since 2008. 
  5. This struggling retailer suffered another earnings blow.

Corporate Earnings Chart Sept 27

Unusual Opions Activity Sept 27

Data courtesy of Trade-Alert

Gold Falls To Six-Week Low As Dollar Climbs

Oil climbed after U.S. Energy Secretary Rick Perry said there were no plans to release domestic crude reserves into the market to ease prices. November-dated crude futures added 55 cents, or 0.8%, to $72.12 per barrel.

Gold prices fell again today, as a rising greenback dulled demand for the dollar-denominated asset. December-dated gold futures closed down $11.70, or 1%, at $1,187.40 per ounce, the lowest settlement since Aug. 17.


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