"It was a very slow day, as there wasn't a lot of movement or
news out there," noted Schaeffer's Senior Technical Strategist Ryan
Detrick, CMT. "Still, when you consider the strong end-of-week
bounce we just saw, not giving back the gains is a plus." By the
time the closing bell sounded, the
Dow Jones Industrial Average (DJI)
was sitting slightly higher, after spending most of the session
Continue reading for more on today's market, including
Trading Topic of the Week
- Money can't buy love, but these four companies are hoping
open their wallets this Valentine's Day
earnings on deck
include a headline-grabbing pharmaceutical retailer and an
outperforming online travel concern.
- Schaeffer's contributor Adam Warner revisits last week's
volatility pop (and subsequent drop),
and considers what it might mean for the future.
... Carl Icahn eases up on Apple Inc. (
), McDonald's Corporation (
) announces a drop in domestic sales, and Tesla Motors Inc (
) speculators eye the $200 level.
-- Learning to Trade Like the Pros:
Trade on data, not emotions
. How do you avoid getting chewed up by the panic/euphoria machine?
By suppressing your fight-or-flight reflex and trading on facts and
Dow Jones Industrial Average (DJI - 15,801.79)
traded south of the flatline for most of the day, but a burst of
late-day buying strength took the blue-chip index into the black by
7.7 points. Leading the 17 Dow advancers were The Walt Disney
) and Travelers Companies Inc (
), both of which added 1.8% today. UnitedHealth Group Inc (UNH)
brought up the rear with its 2.3% drop, and DuPont and Co (DD) was
unchanged on the day.
S&P 500 Index (SPX - 1,799.84)
was unable to surmount 1,800 in intraday trading, but settled for
an advance of 2.8 points, or 0.2%, closing just shy of its intraday
Nasdaq Composite (COMP - 4,148.17)
outperformed its index rivals, gaining 22.3 points, or 0.5%.
CBOE Volatility Index (VIX - 15.26)
continued its recent backslide -- but barely -- reversing 0.2% on
A Trader's Take
"Tomorrow, Janet Yellen begins her testimony on Capitol Hill,
speaking before the U.S. House Financial Services Committee," added
Detrick. "It's one of her first times in the spotlight as Federal
Reserve Chairwoman, and her remarks will be very closely watched
and scrutinized. With that said, tomorrow could very well have more
fireworks than today's dull session did."
5 Items on Our Radar Today
- Activist investor Carl Icahn decided to
abandon his proposal
that Apple Inc. (
) accelerate its rate of buyback activity to $50 billion this
year. Icahn's letter to AAPL shareholders pointed out that the
company is already on pace to buy back $32 billion of its own
shares, and added, "We see no reason to persist with our
nonbinding proposal, especially when the company is already so
close to fulfilling our requested repurchase target." Recently,
advisory firm Institutional Shareholder Services had also
addressed Apple's shareholder base, recommending a veto of
Icahn's earlier proposal.
(Los Angeles Times)
- McDonald's Corporation (
) reported a 1.25% increase in global sales for last month,
outpacing analysts' estimates. In the U.S., however,
same-store sales dropped 3.3%
, a wider pullback than Wall Street had projected.
Tesla Motors Inc (
eased to a new record high, short-term call players eyed the $200
- Ahead of its earnings release Wednesday evening,
Cisco Systems, Inc. (CSCO)
saw neutral-to-bullish short-term activity transpire in its
- Still fresh from last week's surge higher,
Green Mountain Coffee Roasters Inc. (GMCR)
reported another exciting partnership and scored a price-target
For a look at today's options movers and commodities
activity, head to page 2.
Crude oil made its way above the $100 threshold today, closing
at its highest level in 2014. Specifically, March-dated oil futures
edged up 18 cents, or 0.2%, to settle at $100.06 per barrel.
Gold futures extended their winning streak to four, ahead of
tomorrow's remarks from Federal Reserve Chairwoman Janet Yellen.
April-dated gold added $11.80, or 0.9%, on the day, closing at
$1,274.70 an ounce.
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