It was another blow-out session on Wall Street, with the Dow notching a triple-digit gain on news that China will be slashing import tariffs on a number of goods. A nearly 3% win for Boeing (BA) also helped boost the blue chip index, after the aircraft company fired CEO Dennis Muilenburg. As far as economic data is concerned, traders weighed a rise in new home sales last month, as well as a 3% drop in durable goods orders for November. Investor optimism extended to the Nasdaq and S&P, with the former grabbing its ninth straight win -- it's longest streak since October 2017.
Continue reading for more on today's market, including:.
- The internet stock that Wedbush thinks could surge in the new year.
- Options bulls like these 2 social media stocks.
- Plus, options bull bets big on PEP stock; the drug stock that tripled; and why JD.com stock hit a new high.
The Dow Jones Industrial Average (DJI - 28,551.53) added 96.4 points, or 0.3%. Twenty-four of the 30 components ended higher. Boeing (BA) took the lead on a 2.9% win, while Walt Disney (DIS) sunk to the bottom after shedding 1.5%.
The S&P 500 Index (SPX - 3,224.01) settled 2.8 points, or 0.1%, higher, while the Nasdaq Composite (IXIC - 8,945.65) climbed 20.7 points, or 0.2%.
The Cboe Volatility Index (VIX - 12.61) rose 0.1 point, or 0.8%.
5 Items on Our Radar Today
- Nike (NKE) spokesman and former NFL player Colin Kaepernick's new "True to 7" shoe -- designed in collaboration with the sneaker producer -- was released in North America today, and already sold out. The Air Force 1 shoe retails at $110 and features an embroidered likeness of Kaepernick on the heel tab. (CNBC)
- Investment manager T. Rowe Price just announced it is putting $1.3 billion into privately owned electric car company Rivian. This marks the fourth investment for the Plymouth, Michigan-based startup, putting it ahead in the highly competitive electric auto market led by Tesla (TSLA). (Reuters)
- Breaking down one options bulls' big bet on PepsiCo stock.
- This pharma stock just had its best day on record.
- Behind the IPO report giving JD.com stock a boost.
There are no earnings of note today.
Oil, Gold Settle Higher Ahead of Holiday
Oil inched higher today as geopolitical tensions eased, brushing off rumors of a pact between the Organization of the Petroleum Exporting Countries (OPEC) and its allies to ease global output at a coming meeting in March. February-dated crude futures added 8 cents, or 0.1%, to settle at $60.52 per barrel.
Gold surged to six-week highs today, breaking north of the psychologically significant $1,480 level. February gold futures were up $7.80, or 0.5%, to end at $1,488.70 an ounce.