Dow Cruises to Another Win
ATVI and FCX were two of the best S&P stocks today
U.S. stocks rose again today, with the Dow posting another triple-digit victory. Mostly, the gains were fueled by the same tailwinds from Tuesday, namely the tentative budget dealto avoid a government shutdown, and potential flexibility for the March 1 trade deadline with China. Big days from Activision Blizzard (ATVI) and Freeport-McMoRan (FCX) guided the S&P 500 to another close above its 200-day moving average, while the Nasdaq also grabbed a win.
Continue reading for more on today's market, including:
What sent El Pollo LoCo traders into a frenzy. Stocks are verging on a signal not seen in 3 years.The e-commerce stock that jumped on a hemp deal. Plus, weed firm's earnings due out; drug stock sinks; and an unusual VIX streak.The Dow Jones Industrial Average (DJI - 25,543.27) closed up 117.5 points, or 0.5%, with 23 of 30 blue chips finishing in the black. Home Depot's (HD) 1.6% win lead the way, and the biggest decliner was Cisco Systems (CSCO), down 0.8% ahead of earnings.
The S&P 500 Index (SPX - 2,753.03) rose 8.3 points, or 0.3%, and the Nasdaq Composite (IXIC - 7,420.38) managed to close up 5.8 points, or 0.1%.
The Cboe Volatility Index (VIX - 15.65) also ended positive, up 0.2 point, or 1.4%.
5 Items on our Radar Today
Google announced it's planning on investing $13 billion in data centers and other offices in the U.S. this year. The spending will take place in Nebraska, Nevada, Texas, Ohio, Oklahoma, South Carolina, and Virginia. (Reuters)Elsewhere in tech, the Securities and Exchange Commission (SEC) said it was charging a former Apple (AAPL) attorney for insider trading. Also, Apple is reportedly planning on launching a streaming service in the coming months. (CNBC)Options traders are gearing up for this weed company's earnings reveal.Earnings sank this drug stock today.Inside an unusual VIX streak.
Data courtesy of Trade-Alert
Oil Posts Another Winning Session
Oil prices again gained, thanks to Saudi Arabia's willingness to decrease crude exports. March-dated crude rose 80 cents, or 1.5%, to $53.90 per barrel, though gains were capped by another jump in weekly crude inventories.
Gold also rose again, marking a second straight win. April-dated gold closed up $1.10 at $1,315.10 an ounce.