FAANG Earnings, Brexit Progress Buoy Stocks
Netflix stock gained 2.5% on a well-received earnings report
The Dow rose roughly 23 points today as well-received earnings continue to roll in. Netflix (NFLX) earnings were on the forefront of investors minds, as the streaming wars continue to ramp up. The FAANG stock wound up tacking on 2.5% on a solid earnings beat, setting a positive tone as earnings season begins to ramp up.
Elsewhere, traders are focusing their attention on what U.K. Prime Minister Boris Johnson is calling a "great new Brexit deal" that was endorsed today by leaders of 27 European Union (EU) countries, though the newly drawn-up agreement faces some potential hurdles in the House of Commons later this week.
Continue reading for more on today's market, including:
The struggling pot stock getting a second wind as Cannabis 2.0 kicks off. How one trader is betting big ahead of this social media stock's earnings report. A look at Apple's revved-up option activity amid antitrust concerns. Plus, the buy signals flashing for COUP and PYPL stocks, and how options bears made bank on SHAK stock.The Dow Jones Industrial Average (DJI - 27,025.88) added 23.9 points, or 0.09%. The 20 gainers were led by UnitedHealth (UNH), which tacked on 2.8%, while IBM (IBM) fell to the bottom of the index on a 5.5% drop.
The S&P 500 Index (SPX - 2,997.95) settled 8.3 points, or 0.3%, higher, while the Nasdaq Composite (IXIC - 8,156.85) was 32.7 points, or 0.4%, higher
The Cboe Volatility Index (VIX - 13.79) added 0.1 point, or 0.8%.
5 Items on Our Radar Today
33 people have now died, and 1,479 have fallen ill, from a vaping-related illness, which the Centers for Disease Control and Prevention (CDC) is now calling EVALI, or e-cigarette, or vaping product use associated lung injury -- an outbreak the CDC thinks will become even worse with the upcoming flu season. (CNBC)It was discovered that an old metal pipe that had not been properly tested for corrosion was the culprit of the Philadelphia Energy Solutions oil refinery fire last June that left the company bankrupt. (Reuters)Why traders might want to scoop up this software stock while it's on sale. The reliable "buy" signal flashing for this e-pay stock before earnings. How put traders just made a mint with Shake Shack stock.
Data courtesy of Trade-Alert
Cease-Fire in Syria Boosts Oil
The temporary cease-fire in northern Syria had oil prices, once again, settling higher today -- despite a holiday-delayed inventories report that showed domestic inventories continuing to build. November-dated crude futures finished up $0.57, or 1.1%, to settle at $53.93 a barrel.
Gold shot up to weekly highs today, as a possible Brexit deal boosted the pound and pressured the U.S. dollar. Gold futures for December delivery added $4.30, or 0.3%, to end at $1,498.30 per ounce.