"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
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.
Trading Topic of the Week
Continue reading for more on today's market, including
-- 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
ggressive move in 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.
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
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%.
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
- 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)
- Russian President Vladimir Putin
dismissed warnings from U.S. President Barack
, 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.
Intel Corporation (INTC)
captured the attention of short-term call buyers, who were
scooping up bullish bets at a bargain.
- Long-term options were the flavor of the day in the
Ford Motor Company (
option pits, as traders sold to open calls and rolled out long
Option Idea of the Week
TD Ameritrade Holding Corp. (AMTD)
may be primed for more upside in the intermediate term.
For a look at today's options movers and commodities
activity, head to page 2.
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%.
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