Stocks Surge as VIX Dips

All three benchmarks nabbed fresh intraday record highs, too

by Patrick Martin

Published on Jan 9, 2020 at 4:29 PM
Updated on Jan 9, 2020 at 4:39 PM

The Dow logged its second-straight triple-digit victory today with U.S.-Iraq tensions apparently in decline. The blue-chip index hit a new intraday record high, with Apple (AAPL) and Goldman Sachs (GS) leading the charge. The S&P 500 and Nasdaq joined the Dow in the black and logged record highs of their own, with a surging semiconductor sector powering the latter's gains. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), logged its fourth straight loss.

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

  • Options bulls and analysts blitzed Snap stock today.
  • Infosys picked up a bull note ahead of earnings.
  • Plus, a KB Home earnings preview; a new Street-high target for KO; and trouble for BBBY.

The Dow Jones Industrial Average (DJI - 28,956.90) added 211.8 points, or 0.7%. AAPL paced the 20 winners with a 2.1% win, while Walgreens Boots Alliance (WBA) fell to the bottom of the the 10 losers with a 2.1% drop.

The S&P 500 Index (SPX - 3,274.70) gained 21.7 points, or 0.7%, while the Nasdaq Composite (IXIC - 9,203.43) finished 74.2 points, or 0.8% higher.

The Cboe Volatility Index (VIX - 12.54) lost 0.9 point, or 6.8%.

Closing Indexes jan 9

NYSE and Nasdaq jan 9

5 Items on Our Radar Today

  1. Chinese Vice Premier Liu He is reportedly heading to Washington D.C. next week to sign "phase one" of the trade deal. While President Trump is suggesting that while negotiations for "phase two" of the deal will soon be underway, a signed agreement won't come until after the 2020 election in November. (MarketWatch)
  2. British Prime Minister Boris Johnson's Brexit bill took one step forward today, after it cleared the House of Commons with a 330 to 231 vote. The vote now heads to the upper House of Lords, with Johnson keen to finish the procedure and get the U.K. out of the European Union (EU) by the end of the month. (Bloomberg)
  3. KB Home calls were hot ahead of earnings.
  4. Coca-Cola stock landed a big upgrade from Credit Suisse.
  5. Bed Bath & Beyond options bears are getting in on the stock's post-earnings sell-off.

Corporate Earnings Jan 9

UVOL jan 9

Data courtesy of Trade-Alert

Oil, Gold Take a Breather

Oil inched fractionally lower today, essentially holding steady after yesterday's pullback of nearly 5%. February-dated crude futures lost five cents to end at $59.56 per barrel.

Gold also fell, logging back-to-back losses amid easing geopolitical tensions. February gold futures gave back $5.90, or 0.4%, to end at $1,554.30 an ounce.




A Schaeffer's exclusive

TOP STOCK PICKS 2020

Access your FREE insider report before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Security Stock Targeting Terrorism
Click to continue to advertiser's site.
Earnings, China Deal Signing Guides Stocks to Fresh Highs
Traders were greeted with some M&A buzz, too
Twitter Stock Drops on Analyst Slam
TWTR has been attempting to recover from its fourth-quarter lows
The Security Stock Targeting Terrorism
Click to continue to advertiser's site.