Dow Logs Best Win Streak Since May 2018

The Dow came within a chip-shot of its all-time closing high

by Patrick Martin

Published on Sep 12, 2019 at 4:29 PM

The Dow roared to its seventh straight win today, its longest winning streak since May 2018. The blue-chip index also came within a chip-shot of its July 15 record close in intraday action, as traders cheered President Donald Trump's "gesture of good will" toward China, as well as his tweet that Beijing may "be buying large amounts of [U.S] agricultural products." European stimulus buzz fueled bulls' fire, too, with the S&P 500 and Nasdaq also finishing in the black -- the former locking up a third consecutive gain, and the latter powered by an outperforming tech sector.

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

  • Put options on this oil stock could pay off. 
  • Signal says there's more upside to Sony stock.
  • These 3 stocks made massive moves today.
  • Plus, bearish alarms for Caterpillar; a successful RH options trade; and bears bombard GE.

The Dow Jones Industrial Average (DJI - 27,182.45) recorded a 45.4-point, or 0.2%, gain. Visa (V) had the best day of the 22 blue-chip gainers, finishing up 1.7%, while Walgreens Boots Alliance (WBA) led the eight laggards with its 4.3% drop.

The S&P 500 Index (SPX - 3,009.57) gained 8.6 points, or 0.3%, while the Nasdaq Composite (IXIC - 8,194.47) closed up 24.8 points, or 0.3%.

The Cboe Volatility Index (VIX - 14.22) shed 0.4 point, or 2.7%.

closing indexes summary sept 12

nyse stats sept 12

5 Items on our Radar Today

  1. Democratic presidential front-runners Joe Biden and Elizabeth Warren will share the stage for the first time tonight. The top 10 candidates will debate in Houston tonight for the third time leading up to the 2020 presidential election. (Reuters)
  2. Another FAANG name could be facing antitrust issues. The Federal Trade Commission (FTC) is reportedly looking into Amazon.com (AMZN), and how small businesses are impacted by revenue made on Amazon's site in comparison to other online marketplaces. Facebook (FB) and Alphabet's Google (GOOGL) are already facing antitrust probes. (USA Today)
  3. 2 signs that say steer clear of Caterpillar stock.
  4. Breaking down this profitable RH options trade.
  5. GE options traders are bracing for more losses soon.

corporate earnings sept 12

unusual options trading sept 12

Data courtesy of Trade-Alert

Three Straight Drops For Oil

Oil logged its third straight loss today, after the Organization of the Petroleum Exporting Countries' (OPEC) said bigger production cuts won't be discussed until its December meeting. October-dated crude futures fell 66 cents, or 1.2%, to settle at $55.09 per barrel.

Gold extended its rally today, taking cues from the new stimulus measures announced by the ECB. Gold for December delivery closed up $4.20, or 0.3%, at $1,507.40 an ounce.


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