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Mon, 20th February 2017

Anirudh Sethi Report

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Archives of “chicago board options exchange” Tag

Overnight US Market :Dow Closed + 97 points

Stocks closed out the week in a strong fashion Friday as the Dow, S&P 500 and Nasdaq all jumped to new all-time highs in the market’s push further into record territory.

The Dow Jones industrial average rose 96.97, or 0.5%, to close at a record 20,269.37, according to preliminary calculations. The Standard & Poor’s 500 index gained 8.23 points, or 0.4%, to 2316.10 and the Nasdaq composite index added 18.95, or 0.3%, 5734.13.  Both the S&P and Nasdaq were up for a fourth straight day.

Miners and other raw materials companies led the market rally and rising crude oil prices also gave energy companies a big boost. Investors kept their focus on strong company earnings and corporate deal news.

Investors have focused on companies quarterly results lately as they size up corporate America’s growth prospects. Earnings are on track to mark the second-consecutive quarter of growth after a losing streak of five straight quarters. Beyond earnings, investors are also eying Washington D.C. for signs the Trump administration will deliver on the promised business-friendly policy proposals that helped drive a market rally last fall, including slashing government regulations and taxes.

Benchmark U.S. crude was up 91 cents, or 1.7%, at $53.91 a barrel in New York. The contract rose 66 cents on Thursday. Brent crude, the benchmark for international oil prices, was up $1.05, or 1.9%, at $56.68 a barrel in London.

 

Overnight US Market :Dow closed +32 points

Stock indexes wavered between small gains and losses before ending mixed Thursday as investors sized up the latest company earnings news. Consumer goods and industrial stocks climbed the most, while health care and utilities were among the biggest laggards.

The Dow Jones industrial average climbed further above the 20,000 level it passed Wednesday. gaining 32 points, or 0.2% to 20,100.91.

Wall Street came off solid gains from the day before. The Dow Jones industrial average, after topping the magic 20K milestone and staying there, hit a record closing high along with the Nasdaq composite and the S&P 500.

On Thursday the Nasdaq slipped fractionally, losing just 0.02% to 5655.18. Off a little less than 0.1% was the S&P 500, now at 2296.68.

It’s been a record-making week on Wall Street. The S&P 500 index and Nasdaq composite closed at all-time highs on Tuesday and Wednesday. The Dow, which tracks 30 major industrial companies, added its own milestone Wednesday after it breached the 20,000 mark for the first time.

The market is getting a general boost from strong company earnings and investor optimism that the Trump administration’s policies on taxes, regulation and trade will be good for business.

Oil  prices jumped as benchmark U.S. crude oil was up $1.07, or 2%, at $53.82 per barrel in New York. Brent crude, used to price international oils, was up $1.08, or 1.9%, at $56.50 a barrel in London.

Overnight US Market :Dow closed -57 points.Now 237 points short of 20k

Stocks sank on the last trading day of 2016, with the Dow now 237 points short of the 20,000 milestone that it came closest to hitting on Dec. 20.

It was merely a weak end to a very strong year, however, with the S&P 500 gaining 9.5% and the small-company Russell 2000 jumping 19.5% for 2016.

For the day, the Dow Jones industrial average lost 0.3%, off 57 points to 19,762.60. But for 2016, the blue chips gained 13.4%.

The S&P 500 ended 0.5% lower for the day, while the Nasdaq composite fell 0.9%

Global stocks mostly rose on the year’s last day of trading, with Britain’s index rallying to hit another all-time high. The FTSE 100, which was trading for only a half day, rose 0.3%. That leaves the index 14.4% higher over 2016. Elsewhere in Europe, Germany’s DAX rose 0.3%, while France’s CAC 40 gained 0.5%.

The Dow Is The Most Overbought In Over 20 Years (And Options Traders Have Never Been More Bullish)

The Dow Jones Industrial Average has only been more overbought than it is today four times in the last one hundred years.

Having risen for 21 of the last 25 days, The Dow is the most overbought since 1996:

Overnight Dow Jones closed up 65 points.New High Continues….

Stocks gained Thursday, the Nasdaq joining the Dow, S&P 500 and Russell 2000 in record territory as all four indexes hit new all-time closing highs.

After a quiet start, major U.S. stock indexes jumped in afternoon trading as the market built on a surge the previous day. Banks and basic materials companies made the biggest gains, and technology companies also climbed. Defense contractors and other industrial companies took losses.

The small-stock Russell 2000 surged 1.5%.

Meanwhile the Dow Jones industrial average ended up about 65 points, or 0.3%. The Standard & Poor’s 500 index rose 0.2%. The Nasdaq composite jumped 0.4%.

These are the new closing highs for the four indexes:

► Dow: 19,614.81
► S&P 500: 2246.19
► Nasdaq: 5417.36
► Russell 2000: 1386.37

U.S. government bond prices fell, sending yields higher. The yield on the 10-year Treasury note rose to 2.40% from 2.34%. That drove banks stocks up since higher interest rates will allow banks to charge more for lending money. Goldman Sachs (GS), which has surged 32% since the presidential election and is trading at a nine-year high, was up 2.5%, and Bank of America (BAC) picked up 1.7%.

European stocks climbed for the second day in a row. Germany’s DAX index was up 1.8% and France’s CA 40 index gained 0.9%. London’s FTSE 100 rose 0.4%.

Overnight US Market :Dow closed + 2 points.Nasdaq closed sharply down -56 points

The Dow Jones industrial average ended up fractionally Wednesday after a big jump in oil prices on word of an OPEC oil deal.

Tech stocks took a hit as the major indexes ended mostly lower to cap a wild month.

The Dow lost considerable steam, ending up a mere 2 points and about 29 shy of its record closing high of 19,152.14. Earlier in the day, it and the S&P 500 topped their closing records, both set Friday, before scaling back. The S&P 500 wound up in negative territory, down 0.3%

Losing more altitude is the Nasdaq composite, which fell 1.1%.

The price of benchmark U.S. crude jumped as much as 9%m ending about a dime over $49 a barrel after OPEC countries moved toward finalizing a deal to reduce production.

Among energy companies, Devon Energy (DVN) jumped 14.6%, the biggest gain in the Standard & Poor’s 500 index.

Overnight US Market :Dow Closed +59 points.

U.S. stocks ended mostly higher Wednesday, with the Dow Jones industrial average and the S&P 500 again setting new all-time closing highs after strong results from farm equipment maker Deere.

However, technology stocks slipped after HP released a weak profit forecast.

Helped by gains for industrial companies Caterpillar and United Technologies, the Dow Jones industrial average climbed about 59 points, or 0.3%, to 19,083.18. The Standard & Poor’s 500 index inched up 0.1% to 2204.72.

The Nasdaq composite dipped 0.1% to 5,380.68. Trading was relatively light ahead of the Thanksgiving holiday. U.S. markets will be closed Thursday and will close early on Friday at 1 p.m. ET.

The Russell 2000 index of small-company stocks, which has risen for the previous 13 trading days, was up 0.2%. The index has closed at a record high for eight consecutive days. It’s up 18% this year, more than twice as much as the S&P 500, which tracks large companies.

Overnight US Market :Dow closed +40 points.

Stocks capped off a strong week of gains with the Dow closing at a another new record high as investors’ fears about Donald Trump’s upset election win gave way to hopes the president-elect’s policies could boost the economy.

Bullishness about how expected increased government deficit spending could help boost economic growth pushed the Dow Jones industrial average up nearly 1,000 points to a record 18,848 during the week. That 5.4% one-week gain, was the best since a 7% weekly gain in November 2011. The broader Standard & Poor’s 500 gained 3.8% during the week, the best weekly showing since rising 4.1% during a week in October 2014. Tech stocks were relative laggards, as the tech-heavy Nasdaq 100 was 1.9% higher on the week, but fell 1.1% since the election.

Stocks rose for five straight days in a volatile week that saw investors initially boost stocks on the conventional wisdom that Democratic presidential nominee Hillary Clinton would win the election. But as election results came in on Tuesday and it became clear Republican nominee Donald Trump was winning, stocks plunged overnight with Dow futures tumbling almost 800 points, on fears of what an unknown Trump presidency would bring.

But investors quickly shook off fears about a Trump presidency and focused on some of the policy changes that might be beneficial to financial markets, including tax cuts, a reduction on regulation and increase in infrastructure spending.  The Dow ended up posting two straight days of 200-plus gains  and smashed through its previous record close. Friday, the Dow Jones industrial average rose 39.78 points, or 0.2%, to close at record 18,847.66. The Nasdaq composite index gained 28.32 points, or 0.5% to 5237.11. The Standard & Poor’s 500 index dipped slightly Friday as it fell 3.03 points, or 0.1%, to close at 2164.45.

Overnight US Market :Rally continue for 2nd Day.Dow closed up 73 points.

Coming off its biggest stock market rally in eight months, Wall Street added to the gains on Election Day as Americans hit voting booths and investors wait to see who will be the next president of the United States.

At the 4 p.m. ET close, the Nasdaq stood 0.5% higher on the day. The Dow closed up 73 points, a 0.4% climb. The S&P 500 also gained 0.4%.

Tuesday marked the Dow’s best two-day gain since a 520-point jump on June 28-29. The S&P 500’s two-day gain of 2.6% wipes out much of the 3.1% drop registered by its previous, nine-session losing streak.

Investors began the trading day cautiously but stocks pushed ahead at midday and jumped higher, a day after the Dow Jones industrial average closed up 371 points and the broad stock market snapped its longest losing streak in 36 years after FBI director James Comey said the agency is not recommending criminal charges against Democratic nominee Hillary Clinton over her emails. Investors interpreted the FBI decision as boosting Clinton’s chance to win the tight election race with Republican challenger Donald Trump as well as clearing a legal hurdle for Clinton in the event that she does prevail on Election Day.

Overnight :Dow closed -8 points ,S&P 500 -7 Points

Election angst is back on Wall Street.

Stocks, which had been up after the government said the economy grew last quarter at its fastest pace in two years, closed lower Friday after the FBI said it would review more emails in the case related to Hillary Clinton’s use of a private email server while Secretary of State, injecting fresh uncertainty into the presidential race.

The news unnerved investors. Wall Street had been pricing in a win for front-runner Clinton, but the latest broadside to the Democrat’s campaign could potentially boost Trump’s chances when voters go to the polls in 11 days.

The Dow Jones industrial average, which had been up almost 90 points, closed down 8.49, or 0.05%, to 18,161.19. The S&P 500 closed 0.3% lower at 2126.41. The Nasdaq gave up its early gains and fell 0.5% to 5190.10. In another sign of market jitters, a Wall Street “fear gauge,” dubbed the VIX, jumped as much as 13% on the FBI news.

The Dow finished the week with a small gain, and looking ahead to next week Wall Street will be watching politics, the Federal Reserve’s decision on interest rates, a slew of corporate earnings and the release of the October jobs report.