The
Dow Jones Industrial Average (DJI)
jumped as high as 86.5 points in intraday trading, and despite
paring most of its lead, ended at a multi-year best. "After a good
start to the session, we lost steam as the day wore on," said
Schaeffer's Senior Technical Strategist Ryan Detrick. "The jobs
data was considered promising. It wasn't too strong and it wasn't
too weak. All in all, though, it was a slow Friday after the
initial jobs fireworks."
Keep reading to see what else was on our radar today:
And now, a look at the numbers...
Dow Jones Industrial Average (DJI - 13,610.15)
HD
The
S&P 500 Index (SPX - 1,460.93)
and
Nasdaq Composite (COMP - 3,136.19)
were higher in early trading, but dipped below the breakeven mark
as the closing bell approached. The SPX slipped to a fractional
loss on the day, but saw a 1.4% rise for the week. Meanwhile, the
COMP posted a deficit of 13.3 points, or 0.4%, but enjoyed a weekly
return of 0.6%.
The
CBOE Market Volatility Index (VIX - 14.33)
stayed below its 20-day moving average, and notched its lowest
close since Sept. 24. The VIX inched 0.2 point, or 1.5%, lower for
the day, and backpedaled 8.9% for the week.
Today's highlight
: "With the unemployment numbers out of the way, we can focus on
earnings season, which starts next week," said Detrick. "Alcoa Inc.
(AA) kicks things off on Tuesday."
Turning to today's major market stories...
For today's activity in commodities, options, and more, head
to page 2.
Though the conflict between Syria and Turkey was a
boon for oil futures on Thursday
, the commodity slipped today on growing concerns for global
demand. By the close, November-dated crude lost $1.83, or 2%, to
settle at $89.88 a barrel. For the week, black gold retreated
2.5%.
Gold futures also headed south today, as a better-than-expected
unemployment report dimmed stimulus hopes. Against this backdrop,
gold for December delivery retreated $15.70, or 0.9%, closing at
$1,780.80 an ounce. The malleable metal inched higher by 0.4%
during the week.
Levels to watch in trading...
-
Dow Jones Industrial Average (DJI - 13,610.15)
- support at 11,500; resistance at 14,000
-
S&P 500 Index (SPX - 1,460.93)
- support at 1,100; resistance at 1,500
-
Nasdaq Composite (COMP - 3,136.19)
- support at 2,400; resistance at 3,400
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