Dow Tags a New Closing High, But Stocks End Mixed for the Week

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It was a photo finish in the market today, as investors watched whether or not the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) would be able to pull out weekly wins. Both indexes experienced choppy trading and spent time north and south of breakeven, with earnings reports and potential progress in the Russia/Ukraine conflict sharing the spotlight. As market bears try to prevent the major indexes from revisiting historical highs, their bullish counterparts have been able to keep most sell-offs in check. The net result was a modest weekly gain (and a new closing high) for the Dow, and a slight weekly loss for the S&P.

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 Fast, Aggressive move in the Right direction.

The Dow Jones Industrial Average (DJI - 16,583.34) traded lower for much of the morning, but gained positive momentum into the close, settling on a gain of 32.4 points, or 0.2%, which was enough to secure a new all-time closing high. The blue-chip index also eked out a weekly gain of 0.4%. McDonald's Corporation ( MCD ) paced the Dow's 18 advancing stocks, rising 1% today, and JPMorgan Chase & Co. (JPM) logged a 0.6% drop to bring up the rear. Cisco Systems, Inc. (CSCO) was unchanged.

The S&P 500 Index (SPX - 1,878.48) had a similar daily trajectory to the Dow, rallying into the close after a lackluster morning. The index finished 2.9 points, or 0.2%, higher, but ended the week with a 0.1% loss. The Nasdaq Composite (COMP - 4,071.87) closed in the black for the first time since Monday, adding 20.4 points, or 0.5%. On a weekly basis, however, the tech-rich index gave back nearly 1.3%.

The CBOE Volatility Index (VIX - 12.92) started the morning above the flat line, but trended steadily lower throughout the day, closing off 0.5 point, or 3.8%. The market's "fear gauge" ended just shy of its intraday low -- and south of the 13 level -- but edged up 0.1% on the week.

CLOSING SUMMARY - INDICES

CLOSING SUMMARY - NYSE AND NASDAQ

5 Items on Our Radar Today :

  1. Apple Inc. ( AAPL ) is reportedly in talks to purchase Beats Electronics for $3.2 billion. The headphone maker -- which debuted its own streaming music service in January -- was launched in 2008 by hip-hop star Dr. Dre. If the deal ends up going through, it will be the largest acquisition on record for the iTunes parent. (Los Angeles Times)
  2. Speaking before a live group in New Orleans, Federal Reserve Bank of Dallas President Richard Fisher -- currently a voting member of the Federal Open Market Committee -- noted that he agrees with ceasing all quantitative easing efforts this year. Fisher also projected that interest rates may stay near historical lows for some time, assuming inflation holds beneath 2%. (FOX Business)
  3. The Labor Department's Job Openings and Labor Turnover Survey (JOLTS) revealed 4 million job openings in March, a slight decline from 4.1 million in February. There are currently about 2.5 job seekers for each open position, down from the 2009 peak of seven unemployed Americans for every opening. (USA Today)
  4. Twitter Inc (TWTR) scored another vote of confidence on Wall Street and attracted a number of option bulls .
  5. Citigroup Inc (C) bulls are betting on a near-term breakout through the $50 level.

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 :

Oil futures edged lower on Friday -- moving back below the $100 level -- as the dollar gained strength. At the close, the June-dated contract had slipped 27 cents, or 0.3%, to settle at $99.99 per barrel. Week-over-week, however, black gold added 23 cents, or about 0.2%. Elsewhere, June natural gas futures dipped to another three-week low, and shed 3.1% for the week.

Gold lost ground for the fourth session in a row, slipping 10 cents to settle at $1,287.60 an ounce. This week, the malleable metal fell nearly 1.2%.

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: FB , TSLA , TTWO , AAPL , MCD

Schaeffer's Investment Research

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