Dow Tags Five-Year Best as Unemployment Takes Center Stage

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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...

CLOSING SUMMARY - INDICES

CLOSING SUMMARY - NYSE AND NASDAQ

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

OUTPERFORMING AND UNDERPERFORMING SECTORS

STOCKS - MOVERS

STOCKS - EARNINGS

STOCKS - NOTABLE CALL ACTIVITY

STOCKS - NOTABLE PUT ACTIVITY

SCHAEFFER'S MARKET POSTURE

At the end of every market day, the staff at Schaeffer's Investment Research reviews the trading day in detail, covering major events and key market developments. Don't miss this critical, timely and insightful report. If you enjoyed today's edition of Market Recap, sign up here for free daily delivery straight to your inbox.



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: FB , GRPN , HD , P , XOM

Schaeffer's Investment Research

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