Dow, S&P 500 End Week Higher on Upbeat Economic Data

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"Stocks rose moderately today, as new money entered the market -- probably related to the beginning-of-the-month positive bias," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Europe saw selling pressure from disappointing employment and inflation data, while China's PMI came in better than expected. Here at home, the ISM's manufacturing index rose to its highest level since April 2011." As a result, the Dow Jones Industrial Average (DJI) closed firmly in the black, and finished higher for the week.

Continue reading for more on today's market, including :

  • In case you missed it , today's installment of Weekly Contrarian examines whether Facebook Inc ( FB ) could be ready for another run higher , despite some lingering skepticism.
  • Ford Motor Company ( F ) reported a notable rise in vehicle sales last month, which may have lured call players to the options pits.
  • Find out why trading activity on the Nasdaq Options Market (NOM) was halted today , and the impact it had on NASDAQ OMX Group, Inc. ( NDAQ ) shares.
plus...
    Manufacturing activity surged in October, Chevron Corporation ( CVX ) fell short of consensus earnings estimates, and First Solar, Inc. ( FSLR ) attracted a crop of post-earnings call players.

The Dow Jones Industrial Average (DJI - 15,615.55) was parked in positive territory for most of the session, tagging an intraday high of 15,649.40 within the first hour of trading. By the close, the index was up 69.8 points, or 0.5%. For the week, the Dow added 0.3%. The Boeing Company (BA) and JPMorgan Chase & Co. (JPM) led the 25 advancing blue chips with gains of 1.9% each, while Chevron Corporation's ( CVX ) earnings-induced decline of 1.6% paced the five laggards.

The S&P 500 Index (SPX - 1,761.64) spent time on both sides of breakeven, but finished the session with a gain of 5.1 points, or 0.3%. Meanwhile, the Nasdaq Composite (COMP - 3,922.04) advanced 2.3 points, or 0.1%. On a week-over-week basis, the SPX climbed 0.1%, and the COMP fell 0.5%.


Elsewhere, the CBOE Volatility Index (VIX - 13.28) stumbled at the opening bell, and then moved higher around midday. Nevertheless, the "fear barometer" ended up with a loss of 0.5 point, or 3.4%, by the close. For the week, the VIX tacked on 1.5%.

CLOSING SUMMARY - INDICES

CLOSING SUMMARY - NYSE AND NASDAQ

3 Things to Know About Today's Market :

  • The Institute for Supply Management (ISM) said its manufacturing index arrived at 56.4 in October -- up from the previous month's figure of 56.2, and marking the gauge's highest level since April 2011. Economists, on average, were expecting a reading of 55. (Bloomberg)
  • Motor vehicle sales hit a multi-month low in October, slipping to a seasonally adjusted yearly rate of 15.23 million last month from 15.28 million in September. The consensus view was calling for an annual rate of 15.4 million. (MarketWatch)
  • Chevron Corporation ( CVX ) reported third-quarter earnings of $4.95 billion, or $2.57 per share, down from $5.25 billion, or $2.69 per share, in the year-ago period. On average, analysts were projecting a per-share profit of $2.71. (Reuters)

5 Stocks We Were Watching Today :

  1. Netflix, Inc. (NFLX) received an upgrade at Baird, marking a rare vote of confidence from the bearishly skewed brokerage bunch.
  2. Call volume surged on First Solar, Inc. ( FSLR ) , after the firm reported stronger-than-expected quarterly earnings last night.
  3. Apple Inc. (AAPL) -- which has been targeted by call buyers in recent weeks -- made its iPad Air available for purchase today.
  4. A web and mobile app redesign for Groupon Inc (GRPN) may have triggered a flurry of last-minute bullish bets on the security.
  5. AT&T Inc. (T) saw a rise in put activity, as one bearish speculator forecast a sharp near-term decline for the telecom concern.

EARNINGS

For a look at today's options movers and commodities activity, head to page 2.

STOCKS - NOTABLE CALL ACTIVITY

STOCKS - NOTABLE PUT ACTIVITY

Commodities :

Crude futures took another hit today, amid abundant oil supplies and a strengthening dollar. By the close, the December contract fell $1.77, or 1.8%, to end at $94.61 per barrel -- the lowest settlement for a most-active contract since June 21. For the week, crude declined 3.3%.

Meanwhile, a stronger greenback weighed on gold futures, as well, with December-dated gold falling $10.50, or 0.8%, to finish at $1,313.20 an ounce. On a weekly basis, the precious metal lost 2.9%.

SCHAEFFER'S MARKET POSTURE



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Options

Referenced Stocks: CVX , F , FB , FSLR , NDAQ

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