Dow Grabs 8th Straight Weekly Win on Trade-Deal Hopes

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The Dow rallied today for a huge win, thanks to hopes that U.S.-China trade talks are on the right course. Wall Street was undisturbed by President Donald Trump declaring a national emergency to gain funds for a border wall , as the Nasdaq and S&P 500 rose, as well. Bank stocks were some of the biggest advancers, helping guide the Dow and the Nasdaq to an eighth straight weekly win -- their longest win streaks since 2017 and 2016, respectively.

Continue reading for more on today's market, including:

  • 3 of the worst Nasdaq stocks today.
  • How call traders are playing the Tandem Diabetes rally. 
  • Plus, healthcare stock flashes bear signal; why traders circled Suncor; and SAGE earnings draw speculative bets. 

The Dow Jones Industrial Average (DJI - 25,883.25) rallied into the close, finishing up 443.9 points, or 1.7%. Financial giants Goldman Sachs ( GS ) and JPMorgan Chase ( JPM ) led the way with gains of 3.1% and 3%, respectively. Only two of the Dow's 30 components, Apple ( AAPL ) and Coca-Cola ( KO ), ended lower, with the latter having the worse day, shedding 0.8%. The Dow's eighth consecutive weekly win yielded a 3.1% return.

The S&P 500 Index (SPX - 2,775.60) picked up 29.9 points, or 1.1%, and the Nasdaq Composite (IXIC - 7,472.41) closed with a 45.5-point, or 0.6%, advance. The SPX moved up 2.5% this week, and the Nasdaq gained 2.3%.

The Cboe Volatility Index (VIX - 14.91) dipped 1.3 point, or 8.1%. The VIX lost 5.2% this week.

Closing Indexes Feb 15

NYSE and Nasdaq Feb15

5 Items on our Radar Today

  1. The Philadelphia City Council just voted that businesses accept cash as payment . The bill will now be passed to Mayor Jim Kenney. A Gallop poll showed that 25% of Americans used cash for all or most retail purchases in 2016. ( USA Today )
  2. Investors pored over new financial data from Uber today, as Wall Street prepares for the company's eventual public offering. The numbers showed a decline in revenue growth for the ride service specialist in 2018. ( Reuters )
  3. A bear signal just flashed on this healthcare stock .
  4. Why Suncor Energy saw heavy options trading .
  5. Call traders have jumped on SAGE Therapeutics before earnings.

unusual options volume feb 15

Data courtesy of  Trade-Alert

Oil Ends Strong Week with Another Win

Oil prices ended their big week on a strong note, rising alongside equities. March-dated crude futures finished with a $1.18, or 2.2%, gain at $55.59 per barrel. Oil added 5.4% for the week.

Gold prices also rose today, despite strength in the dollar. Gold dated for April delivery was up $8.20, or 0.6%, by the close at $1,322.10 per ounce. The precious metal finished the week up 0.3%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Options
Referenced Symbols: GS , JPM , AAPL , KO , SPX

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