The Dow Jones Industrial Average (DJIA) began the post-Christmas week on a high note, trading in positive territory throughout the session, but failed to reach fresh all-time highs, let alone the closely watched 20,000 level. Instead, the Nasdaq Composite (COMP) stole the show thanks to a strong performance from tech stocks , guiding the index to record highs. The risk-on approach was sparked by upbeat economic data, including a 15-year high in the Conference Board's consumer confidence survey, while early holiday data boded well for Amazon.com, Inc. ( AMZN ) . And despite another relatively quiet session , today's gains put the Dow on pace for an eighth straight weekly win.
Continue reading for more on today's market, including:
- The rare VIX signal warning of a short-term sell-off , according to Schaeffer's Senior V.P. of Research Todd Salamone.
- The holiday buzz that had option bulls rushing to Fitbit Inc ( FIT ) .
- While NVIDIA Corporation ( NVDA ) hit higher highs , this sector peer "has a shot at becoming a new kind of tech giant."
- Plus ... The stocks to own in January, 3 biotechs making waves, and the "poison pill" news that pressured one retailer.
The Dow Jones Industrial Average (DJIA- 19,945.04) added a modest 11.2 points, or 0.1%, to land a second straight win. Of the 30 Dow components, 21 closed higher, led by a 0.6% gain from Apple Inc. ( AAPL ). Nike Inc ( NKE ) was the worst off of the nine losers, dropping 1.2%.
The S&P 500 Index (SPX - 2,268.88) picked up 5.1 points, or 0.2%. The Nasdaq Composite (COMP - 5,487.44) closed with a 24.8-point, or 0.5%, gain, after hitting a record high of 5,512.36.
The CBOE Volatility Index (VIX - 11.99) also closed higher, adding 0.6 point, or 4.8%.
5 Items on Our Radar Today
Carrie Fisher, the actress who played Princes Leia in "Star Wars," died Tuesday of an apparent heart attack . Countless celebrities have already paid tribute to the star, who was 60 years old. (CNN)
U.S. prosecutors have officially charged three men from China who allegedly hacked into law firms that were working on corporate mergers. The men supposedly used the information to trade stocks. ( Reuters )
- Why bullish traders may want to consider these homebuilders next month .
- 3 biotech stocks making waves .
- The retailer sinking on a "poison pill" announcement .
Data courtesy ofTrade-Alert
Amid low trading volumes, oil futures gained today. Crude dated for February delivery ended up 88 cents, or 1.7%, at $53.90 per barrel.
After securing their worst weekly losing streak in 12 years, gold prices edged higher, despite a strengthening dollar. February-dated gold futures were up $5.10, or 0.5%, at $1,138.70 per ounce, by the close.