A lackluster start to earnings season didn't stall the stock market's momentum, with the Dow clawing back above 25,000 and the S&P 500 closing north of the 2,800 mark for the first time since early February. The Nasdaq, meanwhile, managed a record high close, though the index briefly traded in the red on news Amazon may be wading into the networking equipment business. Nevertheless, the Dow, S&P, and Nasdaq all finished the week higher -- though the former is on track to send up a signal not seen since before the financial crisis .
Continue reading for more on today's market, including:
- 25 trading ideas for pre-earnings options buyers.
- History says to sell this oil stock ahead of earnings.
- Plus, 3 volatile healthcare stocks; Tableau Software stock could be headed to record highs; and the oversold penny stock that bounced.
The Dow Jones Industrial Average (DJI - 25,019.41) added 94.5 points, or 0.4%, for its first close north of 25,000 since June 15. Twenty Dow stocks closed higher, led by a 2% pop for Walgreens Boots Alliance ( WBA ). Cisco Systems ( CSCO ) paced the 10 decliners with its 4.1% drop. For the week, the DJI jumped 2.3%.
The S&P 500 Index (SPX - 2,801.31) tacked on 3 points, or 0.1%, while the Nasdaq Composite (IXIC - 7,825.98) added 2.1 points, or 0.03% -- with the latter hitting a record intraday high of 7,843.53. Week-over-week, the SPX rose 1.5%, while the IXIC gained 1.8%.
The Cboe Volatility Index (VIX - 12.18 ) gave back 0.4 point, or 3.2%, for its lowest settlement since June 15. The market's "fear gauge" slid 8.9% on the week.
5 Items on Our Radar Today
- Twelve Russian intelligence officials were indicted by a U.S. grand jury on allegations of interfering in the 2016 presidential election . The charges brought forth by Special Counsel Robert Mueller include hacking into computers at the Democratic National Committee and campaign of Democratic presidential nominee Hillary Clinton. ( Reuters )
- The U.S. Commerce Department has lifted its ban on domestic companies selling supplies to China telecom ZTE . The seven-year ban first went into effect in April, with the Trump administration saying the company violated sanctions on Iran and north Korea. ( The Verge )
- These 3 healthcare stocks made big moves in today's trading.
- A reliable options signal is pointing to new highs for Tableau Software stock.
- This oversold penny stock bounced from record-low territory.
Data courtesy of Trade-Alert
Crude Oil, Gold Suffer Weekly Losses
Oil prices pared their weekly losses today, with August-dated crude futures adding 68 cents, or 1%, to settle at $71.01 per barrel. For the week, the front-month contract still logged a 3.8% loss on global supply concerns.
A strengthening dollar and a rally in equities dimmed gold's safe-haven appeal, with gold for August delivery shedding $5.40, or 0.4%, to settle at $1,241.20 an ounce -- its lowest settlement since last July. The malleable metal gave back 1.2% on the week.