Dow Outperforms on Disney Strength

Congressional testimonies and trade headlines were also front and center

by Josh Selway

Published on Nov 13, 2019 at 4:30 PM

The Dow managed a strong win and another record high in a busy session on Wall Street. The blue-chip index was spurred by Walt Disney (DIS), which saw its shares rally after announcing strong numbers for its Disney+ streaming service. The S&P 500 and Nasdaq lagged behind, however, as traders considered congressional testimony from Fed Chair Jerome Powell -- who suggested monetary policy will likely stay put for the time being -- along with the first day of public testimony in the impeachment inquiry into President Donald Trump. Also putting traders on edge was an afternoon report in the Wall Street Journal claiming U.S. and China trade talks have hit a roadblock over agriculture purchases.

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

  • Hot auto parts stock with attractive options.
  • Cloud stock Datadog soared after its first-ever earnings release.
  • Plus, 2 stocks that saw post-earnings options trading; HPQ's bearish trendline; and how traders prepared for NTAP earnings.

The Dow Jones Industrial Average (DJI - 27,783.59) closed up 92.1 points, or 0.3%, thanks to a huge day for DIS, which paced the 14 Dow winners with a 7.3% surge. Of the 16 losers, Dow (DOW) had the worst day, falling 2.7%.

The S&P 500 Index (SPX - 3,094.04) added 2.2 points, or 0.1%, and the Nasdaq Composite (IXIC - 8,482.10) dipped 4 points, or 0.1%.

The Cboe Volatility Index (VIX - 13.00) added 0.3 point, or 2.5%.

Closing Indexes Summary Nov 13

NYSE and Nasdaq Stats Nov 13

5 Items on Our Radar Today

  1. Disney said it has already topped 10 million sign-ups for its Disney+ streaming service that launched on Tuesday. The number could be inflated, however, due to the free trial the company is offering and Verizon (VZ) offering one year free to its customers. (CNBC)
  2. The U.S. budget deficit rose 34% in October from a year earlier, as spending on defense, education, healthcare, and social security rose. Meanwhile, revenue from income and corporate taxes declined. (MarketWatch)
  3. 2 stocks that saw heavy post-earnings options trading.
  4. HPQ is facing off with a bearish trendline
  5. How the options market prepared for NTAP earnings.

Corporate Earnings Nov 13

Unusual Options Activity Nov 13

Oil, Gold Rise on the Day

Oil prices managed to gain today, after the Organization of the Petroleum Exporting Countries (OPEC) said a global recession doesn't appear to be imminent. December crude futures finished up 32 cents, or 0.6%, at $57.12 per barrel.

Gold prices also ticked higher. December gold futures climbed $9.60, or 0.7%, to end at $1,463.30 per ounce.


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