Friday was all about jobs and the magical 14,000 level. For the
first time in more than five years, the
Dow Jones Industrial Average (DJI)
finished above the mark it has been chasing in recent weeks. It got
there with a push from a jobs report that may not have looked
strong on the surface, but showed there was more job creation in
the U.S. during the final two months of 2012 than originally
thought. Friday also marked the fourth-straight week of increases
for most of the major indices.
Continue reading for more on today's market, including
- Breaking through 14,000 to end the week strong, how major
Super Bowl advertisers are doing in the markets, and a look at
post-earnings speculation on Las Vegas Sands (
Sparked by a mildly encouraging jobs report, the
Dow Jones Industrial Average (DJI)
surged to end the week strong, finishing at 14,009.79 after
climbing 149 points, or about 1.1%. It was the first time since
Oct. 12, 2007 that the Dow closed above 14,000. Almost the entire
Dow gained on the day, with 28 companies advancing -- led by Bank
of America (
), up 3.5%. Only two companies fell, with a disappointing earnings
report pulling drug maker Merck (
) down 3.3%. The Dow finished the week up 0.8%.
S&P 500 Index (SPX)
also closed higher, rising 15 points, or 1%, to close at 1,513.17
-- and was up 0.7% on the week. The
Nasdaq Composite (COMP)
rose by 37 points (1.2%) to close at 3,179.10. For the week, COMP
CBOE Volatility Index (VIX)
finished at 12.90, down a little more than a point, or 9.7%. The
VIX broke its four-day streak of finishing north of 13. Friday's
downturn pushed the VIX into negative territory for the week, as it
3 Things to Know About Today's Market
- The major stimulus to Friday's rally was
the jobs report
from the U.S. Labor Department. The unemployment rate ticked up
to 7.9%, while employers added 157,000 new positions, slightly
short of economist estimates. But the Labor Department also
revised upward the number of jobs created in the final two months
of 2012, showing an additional 127,000 jobs were added than
- U.S. markets aren't the only ones in a major rally: The
Japanese Nikkei 225 stock index
in each of the last 12 weeks, something that hasn't happened
(New York Times)
- Detroit is off to a roaring start for 2013, with all three
major U.S. carmakers reporting
strong sales results
5 Stocks We Were Watching Today
- All the recent news buzz around Netflix, Inc. (
double the normal options activity
, with bears leading the way.
Cisco Systems, Inc. (CSCO), continuing an overall optimistic
outlook on the stock.
- Major Super Bowl advertisers such as Anheuser-Busch InBev
(BUD), Ford Motor (F), and Coca-Cola (KO) can be
interesting options plays
- Traders were active
but split on
whether to be bullish or bearish toward computer chip maker
NVIDIA Corporation (NVDA).
- Casino operator Las Vegas Sands Corp. (
garnered a lot of attention
from short-term bulls after a strong earnings report.
For a look at today's options movers and commodities
activity, head to page 2.
Oil futures edged higher on Friday, with the March contract
adding 28 cents, or 0.3%, to $97.77 per barrel. Gold futures were
in the black as well; April-dated gold rose $8.60, or 0.5%, to
settle at $1670.60 per ounce. For the week, oil gained 2% while
gold added 0.8%.
At the end of every market day, the staff at Schaeffer's
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major events and key market developments. Don't miss this
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