Dow Rallies For Second Straight Triple-Digit Win
Stocks extended their hot streak ahead of Trump's speech tonight
The Dow posted another solid session today thanks to a strong showing from Boeing (BA) and tech stocks. It was a similar showing from the Nasdaq and S&P 500 Index, as Wall Street digested a busy day of earnings. Going forward, stocks will try to keep their hot streak going in the aftermath of tonight's State of the Union speech, with another round of quarterly reports on the way tomorrow.
Continue reading for more on today's market, including:
Option bulls flocked to this penny stock after a weed deal. Why Citi thinks CenturyLink is a "sell."Plus, huge call action on Etsy; a bank stock to run from; and a drug stock's volatile day.The Dow Jones Industrial Average (DJI - 25,411.52) closed up 172.2 points, or 0.7%, ending near session highs yet again. BA's 3.3% gain paced the 21 blue chip winners, and the biggest loser was Pfizer (PFE), falling 0.8%. Johnson & Johnson (JNJ) closed flat.
The S&P 500 Index (SPX - 2,737.70) grabbed a 12.8-point, or 0.5%, win. Meanwhile, the Nasdaq Composite (IXIC - 7,402.08) climbed 54.6 points, or 0.7%.
The Cboe Volatility Index (VIX - 15.57) closed down 0.2 point, or 1%.
5 Items on our Radar Today
Exxon Mobil (XOM) and Quatar Petroleum just finalized a more than $10 billion deal to export liquefied natural gas (LNG) out of Texas. The LNG will be pumped from Exxon's Golden Pass terminal. (CNBC)The Trump administration officially stated that it had found no significant interference in the 2018 mid-term elections. The U.S. Departments of Justice and Homeland Security released a joint statement today. (Reuters)Call volume spiked during Etsy's huge session. Why it could be time to withdraw from this bank stock.Puts popped during this drug concern's volatile session.
Data courtesy of Trade-Alert
Weak Price Action in Oil and Gold
Oil prices dipped today on weak factory data, which stoked some fears over an economic slowdown. March crude futures closed down 90 cents, or 1.7%, to end at $53.66 per barrel.
Gold prices didn't do much today, due to strength in the dollar. Gold dated for April delivery fell 10 cents to $1,319.20 per ounce.