Indexes Continue Upward Path from Monday Slump

Investors eyed a surprise jump in initial jobless claims

Deputy Editor
Jul 22, 2021 at 4:25 PM
facebook twitter linkedin


The Dow closed over 25 points higher today, while the S&P 500 and Nasdaq finished the day in the black as well, with all three indexes scoring their third-straight wins after Monday's sell-off. However, further gains were pared by higher-than-expected jobless data. Initial jobless claims came in at 419,000 last week, compared to the 350,000 expected by analysts. Meanwhile, several strong earnings reports permeated the market, as well as a generally positive day for Big Tech. 

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

  • Options traders cozied up to CROX after earnings. 
  • Breaking down the popular options strategy, butterfly spreads
  • Plus, SHOP's record high; Schaeffer's latest Market Mashup podcast; and support in place for LOGI. 

The Dow Jones Average (DJI - 34,823.35) rose 25.4 points, or 0.1%. Of the 30 Dow components, Salesforce.Com (CRM) was at the top of the list today, adding 2.6%, while Travelers (TRV) landed at the bottom of the list with a 2.7% drop.

Meanwhile, the S&P 500 Index (SPX - 4,367.48) gained 8.8 points, or 0.2%, and the Nasdaq Composite (IXIC - 14,684.60) tacked on 52.6 points, or 0.4%.

Lastly, the Cboe Volatility Index (VIX - 17.69) lost 0.2 point, or 1.2% for the day.

Indexesjul22

nysejul22

  1. Behind the 10% surge in coffee futures today, their biggest single-session jump in seven years. (Marketwatch)
  2. The $1.2 trillion bipartisan infrastructure plan faced a setback in the Senate, but could soon get another chance to move forward. (CNBC)
  3. Bull notes boosted SHOP to fresh all-time highs. 
  4. How our AMD recommendation notched a 201% return, with Senior Market Strategist Chris Prybal.
  5. LOGI is one of four stock picks selected to celebrate Schaeffer's 40th anniversary. 

newearningsjul22

UVOLjul22

Oil, Gold Rise

Oil prices rose for the third-straight day, as investors continue to weigh tighter supply against a potential drop in demand amid the recent Covid-19 delta variant surge. The new front-month contract, September-dated crude, rose $1.61, or 2.3%, to settle at $71.91 a barrel.

Gold futures finished slightly higher after a relatively placid day of trading, as Treasury yields declined, and global markets eyed the European Central Bank's (ECB) latest monetary policy announcement. August-dated gold added $2, or 0.1%, to settle at $1,805.40 an ounce. 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners