Dow, S&P Close a Memorable Week in Positive Territory

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"Today's key driver was the jobs report ahead of the open this morning," noted Schaeffer's Senior Trading Analyst Bryan Sapp. "While the reading was better than expected, the market's reaction to the numbers wasn't all that great. Going forward, reclaiming today's highs will be key in order for the bulls to stay in control." The Dow Jones Industrial Average (DJI) spent time on both sides of the breakeven mark today, but the bulls were ultimately victorious, as the Dow settled marginally higher on the day and closed up 0.8% for the week.

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

Trading Topic of the Week -- Ways to Win with Aggressive Trades: Remember the F.A.R. principle . To boost your odds of scoring a big winner, look for stocks poised to make a F ast, A ggressive move in the R ight direction.

The Dow Jones Industrial Average (DJI - 16,452.72) bounced within a 107-point range (and spent time both north and south of breakeven), but ultimately closed up 30.8 points, or 0.2%. For the week, the blue-chip index added 0.8%. Nike Inc (NKE) paced the Dow's 18 advancers with a 1.6% gain, while The Walt Disney Company (DIS) dropped 1.4%, bringing up the rear.

The S&P 500 Index (SPX - 1,878.04) tagged another new intraday high shortly after the open -- at 1,883.57 -- and closed up 1 point, or 0.1%, which was enough to solidify another record close. The Nasdaq Composite (COMP - 4,336.22) underperformed once again, shedding 15.9 points, or 0.4%, on the day. The SPX rose 1% during the week, while the COMP added 0.7%.

The CBOE Volatility Index (VIX - 14.11) lost a little ground during Friday's session, giving back 0.1 point, or 0.7%. Week over week, the "fear gauge" rose 0.8%.

CLOSING SUMMARY - INDICES

CLOSING SUMMARY - NYSE AND NASDAQ

A Trader's Take :

"There was a good deal of opportunity on both the long and short sides of the market today," added Sapp. "While equities are all over the place on an intraday basis, there are pockets of strength in sectors such as retail, financials, and transports."

5 Items on Our Radar Today :

  1. The U.S. added 175,000 jobs last month , noted the Labor Department in its monthly nonfarm payrolls report. This was north of economists' expectations, but marked a slight decline from the average gain over the last 12 months. The unemployment rate edged up 0.1 percentage point to 6.7%, surprising the consensus, who expected a shift lower to 6.5%. (The New York Times)
  2. Russian President Vladimir Putin dismissed warnings from U.S. President Barack Obama , opting to defend his nation's moves in the Crimean peninsula. The two leaders spoke by phone for an hour on Thursday, and the U.S. commander in chief outlined possible sanctions against the country, including visa restrictions and deployment of fighter jets to allied countries. (FOX News)
  3. Intel Corporation (INTC) captured the attention of short-term call buyers, who were scooping up bullish bets at a bargain.
  4. Long-term options were the flavor of the day in the Ford Motor Company ( F ) option pits, as traders sold to open calls and rolled out long put positions.
  5. Our Option Idea of the Week highlights why TD Ameritrade Holding Corp. (AMTD) may be primed for more upside in the intermediate term.

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 gained ground today, after the nonfarm payrolls reading increased by more than projected. The April futures contract added $1.02, or 1%, to settle at $102.58 per barrel. This was a penny shy of last week's close, bringing an end to a seven-week winning trend for black gold.

April gold futures slipped on the day, shedding $13.60, or 1%, to close at $1,338.20 an ounce, after the domestic employment picture appeared rosier than many had expected. On a week-over-week basis, the precious metal added 1.3%.

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.

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.


This article appears in: Investing , Options

Referenced Stocks: AMD , AAPL , SIRI , P , F

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