"The market did next to nothing today, as most major sectors
finished flat for the day," noted Schaeffer's Senior Equity Analyst
Joe Bell, CMT. "As we near the end of one of the strongest years in
history, it seems like many participants are satisfied to sit this
one out and wait for the new year." The
Dow Jones Industrial Average (DJI)
settled at an all-time closing peak, but snapped its streak of
record intraday highs.
Continue reading for more on today's market, including
Pending home sales edged higher in November, Crocs, Inc. (
) rallied on investor-related news, and weekly call volume ramped
Apple Inc. (
Dow Jones Industrial Average (DJI - 16,504.29)
spent time on both sides of breakeven today, before finishing 25.9
points, or 0.2%, higher -- marking a record closing peak. The
blue-chip index's 19 advancers were led by The Walt Disney
) analyst-induced gain of 2.5%, while Exxon Mobil Corporation (
) paced the nine decliners with a loss of 1.2%. Microsoft
Corporation (MSFT) and Caterpillar Inc. (CAT) remained
S&P 500 Index (SPX - 1,841.07)
was parked in the red for much of the session, and closed with a
decline of 0.3 point, or 0.02%. Meanwhile, the
Nasdaq Composite (COMP - 4,154.20)
fell 2.4 points, or 0.1%, on the day.
CBOE Volatility Index (VIX - 13.56)
climbed higher out of the gate, and was up 1.1 points, or 8.8%, by
the session's close.
A Trader's Take
"The Dow still managed to finish in positive territory, even if
it was just by a few points," Bell continued. "In what would seem
like a natural time for profit taking, it was nice to see the major
indexes hold up pretty well today."
5 Items on Our Radar Today
- The National Association of Realtors said
pending home sales
edged up 0.2% in November -- the first increase in six months.
However, the latest figure was still off 1.6% on a year-over-year
basis, and fell short of consensus estimates.
- Shares of Crocs, Inc. (
) soared today, amid news that The Blackstone Group L.P. (BX)
is investing $200 million in the shoemaker
. In return, BX will receive preferred stock and two seats on
Apple Inc. (
calls outpaced their bearish counterparts, with weekly contracts
seeing a large portion of the action.
- Option bears predicted a decline for
J.C. Penney, Inc. (JCP)
, which has been struggling to recover since late October.
Advanced Micro Devices, Inc. (AMD)
attracted a crop of bullish traders, who snapped up near-term
For a look at today's options movers and commodities
activity, head to page 2.
Crude futures slipped below the century mark today, as the
February contract shaved off $1.03, or 1%, to close at $99.29 per
Meanwhile, gold futures also declined, with February-dated gold
falling $10.20, or 0.8%, to finish at $1,203.80 an ounce. The
precious metal is poised to suffer its largest annual loss since
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.