Trade Hopes, Intel Earnings Lift Dow 152 Points

The S&P stopped just short of a new all-time high

Deputy Editor
Oct 25, 2019 at 4:32 PM
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The Dow reversed yesterday's dip by finishing over 150 points higher, thanks to positive news from both the corporate earnings and U.S.-China trade fronts. Today's earnings docket included a bang-up report from chipmaker Intel (INTC), which climbed over 7% on an earnings and revenue beat. That overshadowed a big Amazon miss, and helped boost the tech-rich Nasdaq. And as for trade, a phase one deal between Washington and Beijing could be right around the corner, according to the Office of the U.S. Trade Representative. Against this backdrop, the S&P was also higher, right back within striking distance of an all-time high.  

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

  • Why these 2 energy stocks both bombed today
  • The chip stock clocking its fourth straight weekly win. 
  •  Plus, options bears swarm RIG stock; DKS stock gets an upgrade; and BUD's bad day. 

The Dow Jones Industrial Average (DJI - 26,958.06) added 152.5 points, or 0.6%. The 20 gainers were led by Intel (INTC) with an 8.1% rise, while Coca-Cola (KO) fell to the bottom of the 10 losers with a 1.6% dip. The index added 0.7% for the week.  

The S&P 500 Index (SPX - 3,022.55) settled 12.3 points, or 0.4%, higher, with a 1.2% pop for the week. The Nasdaq Composite (IXIC - 8,243.12) closed up 57.3 points, or 0.7%, with a 1.9% weekly gain. 

The Cboe Volatility Index (VIX - 12.65) lost 1.1 point, or 7.7%, and was down 11.2% for the week. On a year-to-date basis, the VIX is now down more than 50%.

Closing Indexes Summary Oct 25

NYSE and Nasdaq Oct 25

5 Items on Our Radar Today

  1. A report from the Centers for Disease Control and Prevention (CDC) said deaths linked to vaping appear to be either "leveling off or even declining," calling these cases, "serious and potentially fatal," but "preventable." (CNBC)
  2. There were least 27 casualties during protests in Iraq today after Iranian-backed militia opened fire on those protesting government and economic corruption in Iraq. This marks the second major uprising resulting in the deaths of protesters this month. (Reuters)
  3. Skepticism abounds for offshore drilling stock RIG ahead of earnings. 
  4. The athletic retailer Goldman Sachs likes right now. 
  5. Sinking beer stock BUD just breached a key trendline. 

Corporate Earnings Oct 25

UVOL Oct 25

Data courtesy of Trade-Alert

Gold Clocks Second Weekly Win, Oil Hits One-Month High

Oil prices just slid into their fourth day in the black, as trade optimism put a balm on traders' anxieties over a weakening economy. December-dated crude futures finished up $0.43, or 0.8%, to settle at $56.66 a barrel -- a one-month closing high. On a weekly basis, oil gained 5.2%. 

Gold eked out a win for the day as downbeat consumer sentiment data left investors optimistically looking towards more Fed rate cuts. The precious metal clocked its second weekly win, and a fresh two-week high. Gold futures for December delivery added $0.60, or 0.04%, to end at $1,505.30 per ounce, and tacked on 0.8% for the week. 


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