Dow Rallies to Fourth Straight Win With Oil Prices

Domestic crude supplies fell more than expected last week

Jan 9, 2019 at 4:33 PM
facebook X logo linkedin


Stocks soared today on lingering trade tailwinds, while a relatively dovish tone in the December Fed meeting minutes only strengthened bulls' resolve into the close. Traders also watched as oil prices surged back above the $50 per barrel mark for the first time since mid-December, while Apple (AAPL) climbed to the top of the Dow, despite an iPhone production cut. By the close, the Dow, Nasdaq, and S&P were all higher for a fourth straight day -- the latter's longest daily win streak since September.

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

The Dow Jones Industrial Average (DJI - 23,879.12) tacked on 91.7 points, or 0.4%. Apple led 19 Dow stocks higher with its 1.7% gain, while Coca-Colo (KO) paced the 11 decliners with its 1.9% drop.

The S&P 500 Index (SPX - 2,584.96) added 10.6 points, or 0.4%, while the Nasdaq Composite (IXIC - 6,957.08) rose 60.1 points, or 0.9%.

The Cboe Volatility Index (VIX - 19.98) fell 0.5 point, or 2.4%, but found support at its 80-day moving average.

closing indexes summary jan 9

NYSE and Nasdaq Jan 9

5 Items on our Radar Today

  1. The minutes from the Federal Open Market Committee's (FOMC) December meeting showed dissent among voting members, despite a unanimous vote to raise the Fed's benchmark interest rate last month. Specifically, the minutes showed several supported holding off on the policy shift to see how the economy reacted to recent volatility, noting that tame inflation allows the central bank "to be patient about further policy firming." (Bloomberg)
  2. Fitch Ratings said an extended U.S. government shutdown puts the country's AAA credit rating at risk. The ratings agency said an ongoing shutdown could create "meaningful fiscal deterioration," and that it's "the debt ceiling that's problematic." (Washington Post)
  3. A rally off recent lows has alarm bells ringing for this tech stock.
  4. This China-based Tesla rival just had its best day in years.
  5. 2 downgraded travel stocks.

Corporate Earnings Jan 9

Unusual Options Activity Jan 9

Data courtesy of Trade-Alert

Oil Reclaims $50 Per Barrel Mark After EIA Data

Oil extended its win streak to an eighth day, after data from the Energy Information Administration (EIA) showed U.S. crude inventories declined by a larger-than-expected amount last week. February-dated crude rose $2.58, or 5.2%, to close at $52.36 per barrel.

February-dated gold futures settled up $6.10, or 0.5%, at $1,292 per ounce ahead of the release of the Fed minutes. The contract continued to climb in electronic trading, after signs of a divided central bank put pressure on the U.S. dollar.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI