"Today was all about earnings, and we saw a mixture of
reactions," summarized Schaeffer's Senior Equity Analyst Joe Bell,
CMT. "There was a ton of intraday volatility, but in the end we
didn't see a lot of net movement either way." After being down more
than 140 points at its intraday nadir, the
Dow Jones Industrial Average (DJI)
settled with a modest loss, while other major indexes closed
Trading Topic of the Week
Continue reading for more on today's market, including
-- Trading Stock Trends:
Trust that the trend is your friend (but do your
Every trader dreams of capitalizing on the big trend reversal that
no one else saw coming. But momentum is a powerful force in the
stock market, so why not go with the flow instead of fighting the
Dow Jones Industrial Average (DJI - 16,414.44)
started the day in the black, but its gains quickly unraveled. The
blue-chip index bottomed out during the lunch hour, and ultimately
closed with a loss of 44.1 points, or 0.3%. The Dow's dozen winners
were led by The Coca-Cola Company (
), which added 1.6%, while the 18 losers were paced by Goldman
Sachs Group Inc (GS), down 1.8% on the day.
S&P 500 Index (SPX - 1,843.80)
managed to close in positive territory, settling 5.1 points, or
0.3%, higher after coming within two points of another intraday
record high. The
Nasdaq Composite (COMP - 4,225.76)
tagged a new 13-year peak of 4,227.93 shortly out of the gate, and
settled with a gain of 28.2 points, or 0.7%.
CBOE Volatility Index (VIX - 12.87)
moved higher as well, adding 0.4 point, or 3.5%. The VIX topped the
13 mark in intraday trading, but was unable to close north of this
A Trader's Take
"Although we were relatively flat today," Bell continued, "it's
nice to see stock correlations at very low levels and good trading
opportunities for stock pickers."
5 Items on Our Radar Today
- Verizon Communications Inc. (VZ) reported fourth-quarter
earnings and revenue that
narrowly topped analysts' expectations
. In other news, the telecom name announced plans to acquire the
assets of Intel Media -- a cloud television concern -- from Intel
- The Dow Chemical Company (
) ran to a new multi-year high today after activist investor
revealed a sizable stake
in the chemical manufacturer. The manager of the Third Point
hedge fund is also encouraging DOW to spin off its petrochemical
BlackBerry Ltd (BBRY)
surged on a positive fundamental development, spurring call
buyers into action.
- Days before its fiscal first-quarter earnings release,
Starbucks Corporation (
suffered a downgrade at Goldman Sachs.
Marathon Oil Corporation (MRO)
could continue to underperform in the weeks ahead.
For a look at today's options movers and commodities
activity, head to page 2.
Crude futures had a positive start to the week, after the
International Energy Agency lifted its 2014 outlook for energy
demand. On its final day of trading, the February-dated contract
added 62 cents, or 0.7%, to $94.99 per barrel.
Gold futures, on the other hand, gave back some of their recent
gains amid a rising greenback. February gold futures slipped
$10.10, or 0.8%, to $1,241.80 an ounce.
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