"After a strong rally to start the year and many indexes near
round-number levels, this week was a logical time for a breather,"
said Schaeffer's Senior Equity Analyst Joe Bell, noting that the
Dow Jones Industrial Average (DJI)
was down slightly on the week. "As the broad markets attempt to
break free of this recent congestion, the volatility in Europe and
retail sales could steal the headlines next week."
Continue reading for more on today's market, including
- Markets rebound, some upbeat news from both the U.S. and
Chinese economies, and how bears may be looking to cash in on the
storm-related woes of Delta Air Lines (
Dow Jones Industrial Average (DJI)
had another choppy session to end the week, going up nearly 80
points early in the session and crossing 14,000, only to slump at
the end of the day and close at 13,992.97, up 49 points or nearly
0.4%. The Dow finished a week that saw at least two 100-point
swings down 0.1%. Hewlett-Packard (
) led the 21 advancers, jumping 2.6%. AT&T (
) finished unchanged. Of the eight decliners, The Boeing Company
(BA) had the biggest drop, at 1.1%, on continued uncertainty around
its Dreamliner 787.
S&P 500 Index (SPX)
also gained, closing at 1,517.93, up more than 8 points, or 0.6%.
The index stayed above the 1,500 mark for the fourth straight day
and the ninth in 11 sessions. The SPX finished up 0.3% on the week.
Nasdaq Composite (COMP)
rose nearly 29 points, or 0.9%, to finish at 3,193.87. For the
week, the COMP climbed nearly 0.5%.
CBOE Volatility Index (VIX)
finished at 13.02, down less than half a point, or 3.6%. The VIX
finished the week with a gain of 0.9%.
Editorial note: The NASDAQ up/down volume was inadvertently
inverted in a prior version of this table. It has been corrected,
and we apologize if this caused any confusion.
A Trader's Take
"After a lot of whipsaw action throughout the week, technology
stocks led the way as the S&P 500 made a new 52-week high
today," Bell said. "With the historic snowstorm set to hit several
states, we could be in for lighter volume than we normally see on
option expiration weeks."
3 Things to Know About Today's Market
- The U.S. trade deficit
to $38.5 billion in December, roundly beating economists'
(The New York Times)
- Gas prices have
over the last few months, a trend that probably will continue.
- December data suggests that
is in full-blown recovery mode.
5 Stocks We Were Watching Today
- As General Electric (GE) flirts with
a new annual high
, bulls looked to cash in.
- Put buyers circled Delta Air Lines (
) looking for
a potential silver lining
from all the flight cancellations in advance of winter storm
- Longer-term traders targeted Groupon (GRPN) hoping for
a big jump
by the summer.
software provider VMware (VMW), buying up front- and back-month
calls at a much higher rate than normal.
on an earnings miss from Oracle Corporation (ORCL).
For a look at today's options movers and commodities
activity, head to page 2.
West Texas crude continued to diverge from its European
counterpart on Friday. Nymex futures were feeling the weight of a
surging U.S. dollar, while Brent crude rallied on the strength of
China's sizable trade surplus. Oil for March delivery dropped 11
cents, or 0.1%, to end at $95.72 per barrel. For the week, black
gold shed 2.1%.
Dollar-denominated gold futures also swallowed a loss, as the
April contract finished Friday on a drop of $4.40, or 0.3%, at
$1,666.90 per ounce. On a weekly basis, the precious metal gave up
At the end of every market day, the staff at Schaeffer's
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major events and key market developments. Don't miss this
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