Dow Kicks Off 2020 With 330-Point Pop

The Dow, S&P, and Nasdaq all closed at new highs

Managing Editor
Jan 2, 2020 at 4:31 PM
facebook X logo linkedin


The Dow kicked off 2020 with a flourish, finishing up over 330 points, its best session since Dec. 6. The blue-chip index nabbed a fresh intraday high in the process, thanks to the latest weekly jobless claims data and stimulus chatter out of China. The S&P 500 and Nasdaq also posted solid wins and fresh record highs, with the latter nabbing its biggest percentage gain since Oct. 11 on a surging semiconductor sector.

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

  • This is the best S&P stock to own in the first quarter, by a landslide.
  • AMD options bulls are eyeing even more gains.
  • Plus, a defense stock to target now; weed name gets "top pick" status; and a downgrade weighs on Hanesbrands. 

The Dow Jones Industrial Average (DJI - 28,868.80) added 330.4 points, or 1.2%. Walt Disney (DIS) led the 24 winners with a 2.5% pop, while Dow Inc (DOW) paced the six laggards with a 1.8% dip.

The S&P 500 Index (SPX - 3,257.85) settled 27.1 points, or 0.8%, higher, while the Nasdaq Composite (IXIC - 9,092.19) tacked on 119.6 points, or 1.3%. 

The Cboe Volatility Index (VIX - 12.47) lost 1.3 points, or 9.5%.

Closing Indexes Summary Jan 2

NYSE and Nasdaq Jan 2

5 Items on Our Radar Today

  1. While Wall Street starts 2020 off on the right foot, bitcoin stumbled out of the gate. The enigmatic cryptocurrency dropped as much as 4% today, dipping below the $7,000 level, and earlier traded at its lowest point in three weeks. Bitcoin gained 95% in 2019. (Bloomberg)
  2. The U.S. Food and Drug Administration (FDA) announced today it was banning most flavored e-cigarettes, including fruit, candy, mint, and dessert flavors. Menthol and tobacco flavors will remain, a departure from President Donald Trump's promise to ban all vaping flavors. (MarketWatch)
  3. Grab HII stock to start the year off strong.
  4. Jefferies named Aphria its top pick in the cannabis industry.
  5. Hanesbrands stock was hit with a double downgrade today.

There are no earnings of note today.

Unusual Options Volume Jan 2

Data courtesy of Trade-Alert

Seventh Heaven for Gold

Oil inched higher today, with some speculating growing tensions between the U.S. and Iran could create possible disruptions to crude supply. February-dated crude futures added 12 cents, or 0.2%, to end at $61.18 per barrel. 

Gold logged its seventh straight win today, to hit its highest amount since late September. February gold futures settled up $5, or 0.3%, end at $1,528.10 an ounce.

 

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