Stocks Stage Furious Rebound After WHO Comments

The S&P 500 and Nasdaq managed back-to-back wins

Patrick Martin

Managing Editor

Jan 23, 2020 at 4:34 PM

VIX
SPX
IXIC
DJI

After spending most of the day deep in negative territory, the Dow finished only marginally lower. The blue-chip index furiously pared its sharp losses after the World Health Organization (WHO) assuaged coronavirus fears by avoiding a declaration of a global health emergency. The S&P 500 and Nasdaq both fought their way into the black for back-to-back gains, with the latter nabbing a new record close. Meanwhile, the Cboe Volatility Index (VIX) notched its third straight gain, and highest close in two weeks.

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

Options traders can't get enough of these 2 mid-caps.
A trusty bull signal just sounded on this pharma stock.
Plus, buy the dip on this biotech; call traders pounce on NFLX rebound; and a $2.2 billion setback for Ford Motor.

The Dow Jones Industrial Average (DJI - 29,160.09) shed 26.2 points, or 0.09%. Boeing (BA) led the 13 winners with a 2.8% win, while Travelers (TRV) paced the 17 laggards with a 5.1% drop.

The S&P 500 Index (SPX - 3,325.54) added 3.8 points, or 0.1%, while the Nasdaq Composite (IXIC - 9,402.48) finished 18.7 points, or 0.2%, higher.

The Cboe Volatility Index (VIX - 12.98) gained 0.07 point, or 0.5%.

closing indexes summary jan 23

nyse and nasdaq stats jan 23

5 Items on Our Radar Today

The U.S. imposed sanctions on six companies for their role in helping Iran’s state-owned National Iranian Oil Company (NIOC) export goods. The blacklisted companies include two in Hong Kong, one in Shanghai, and one in Dubai. (Reuters)
The leading economic index -- which tracks U.S. growth -- declined in December for the fourth time in the last five months. However, the index also forecast 2% growth for early 2020, on par with estimates. The leading index takes 10 economic indicators and delivers a reading to help map out the nation's economic health. (MarketWatch)
This biotech stock could break out of its funk soon.
Netflix rebounded, and calls traders responded in kind.
A big pre-tax loss kept Ford stock in neutral today.

Data courtesy of Trade-Alert

Oil Extends Skid; Gold Gains

Oil fell again today, with energy demand sapped amid the spreading coronavirus. March-dated crude futures lost $1.15, or 2%, to settle at $55.59 per barrel, the lowest settlement since Nov. 29.

Gold prices rose today, as the appeal of safe-haven assets climbed amid early struggles in the stock market. February gold futures gained $8.70, or 0.6%, to end at $1,565.40 an ounce, its highest close since Jan. 7

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