Dow Logs Longest Win Streak of 2018
The Dow notched its fourth triple-digit gain in five sessions, and its fifth straight win -- the index's longest winning streak since December. Well-received earnings for Cisco Systems (CSCO) boosted the blue-chip barometer back above 25,000, and another hot day for tech stocks helped Wall Street shake off concerns about rising inflation. As such, the S&P and Nasdaq also extended their winning streaks to five days -- a feat not accomplished since early January.
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The S&P 500 Index (SPX - 2,731.20) added 32.6 points, or 1.2%, by the close. The Nasdaq Composite (IXIC - 7,256.43) gained 112.8 points, or 1.6%, toppling its 20-day moving average for the first time since Feb. 1.
The CBOE Volatility Index (VIX - 19.13) fell for a fifth straight day, surrendering 0.1 point, or 0.7%. It's the longest losing streak for the "fear gauge" since December.
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McDonald's is looking to cut the calorie count of its Happy Meals by 20%, on average, to under 600 by 2022. The fast-food chain will no longer serve cheeseburgers in the kids' meals, unless specially requested, and will begin adding a bottled water option later this year. (CNNMoney)The number of cryptocurrency hedge funds more than doubled in the past four months, to 226 from 110 in mid-October. However, the funds lost an average of 4.6% in January, per data from Eurekahedge. (Reuters)2 reasons to buy calls on this commodities stock.The retail stock that could surge next week.Why traders should sell Newfield Exploration (NFX) stock before the weekend.
Data courtesy of Trade-Alert
Weaker Dollar Lifts Oil Prices
A weaker greenback translated into gains for dollar-denominated oil prices. By the close, March-dated crude futures added 74 cents, or 1.2%, to end at $61.34 per barrel.
Gold futures pulled back from a three-week high, as a rally in U.S. equities dulled demand for the "safe haven" asset. April-dated gold dropped $2.70, or 0.2%, to end at $1,355.30 an ounce.