Nasdaq Hits New High as Dow Jones Industrial Average Lags

Bank stocks boosted the broader stock market following well-received earnings reports, but it wasn't enough to keep the Dow Jones Industrial Average (DJIA) afloat. In fact, the Dow erased its midday gains, putting the 20,000 mark further in the rearview mirror ahead of the long holiday weekend. Still, the S&P 500 Index (SPX) managed to stay in positive territory all day, while the tech-heavy Nasdaq Composite (COMP) resumed its recent trend, rallying to yet another all-time intraday peak -- and snagging a new record closing high, as well.
 
Continue reading for more on today's market, including: 

• 2 sentiment surveys hinting at high hopes for stocks. 
• Why JPMorgan Chase & Co.'s (NYSE:JPM) post-earnings rally to record highs could have legs.
• The technical level that could spell trouble for this soaring oil stock.
• Plus... Another sliding retailer, a big options bet on one soaring biotech, and a look back at the week's Trump-related stock moves. 
  

The Dow Jones Industrial Average (DJIA - 19,885.73) ended the day down 5.3 points, or 0.03%. Wal-Mart Stores Inc (NYSE:WMT) led 16 of 30 Dow components lower on a 1.2% drop, while Nike Inc (NYSE:NKE) tracked 14 gainers, tacking on 1%. For the week, the blue-chip index slipped 0.4%.

The S&P 500 Index (SPX - 2,274.64) added 4.2 points, or 0.2%, on the day, but lost 0.1% on the week. The Nasdaq Composite (COMP - 5,574.12) climbed 26.6 points, or 0.5%, for a record-high close. The tech-heavy index easily outperformed its peers, gaining nearly 1% for the week.

The CBOE Volatility Index (VIX - 11.23) slipped 0.3 point, or 2.7% -- its lowest close since July 16, 2014 -- and ended the week 0.8% lower.

5 Items on Our Radar Today

1. Japan-based airbag maker Takata Corp. said it will plead guilty to criminal charges and pay a $1 billion settlement for misleading consumers, car manufacturers, and regulators over the safety issues surrounding defective products, which led to the largest vehicle recall in history. The company will also remain on probation for three years, and be subject to independent monitoring for compliance, but is expected to put itself up for sale this spring. (Bloomberg)
2. Lockheed Martin Corporation (NYSE:LMT) CEO Marillyn Hewson met with President-elect Donald Trump to discuss a deal that would lower the cost of the F-35 aircraft -- recently a target of Trump's criticism. Following the meeting, Hewson told reporters, "I certainly share his views that we need to get the best capability to our men and women in uniform, and we have to get it at the lowest possible price." (Reuters)
3. The latest retail stock to crumble under holiday sales disappointment.
4. Behind a 6-figure options bet on soaring Array Biopharma Inc (NASDAQ:ARRY).
5. Looking back on a week of Trump comments and stock moves.

Data courtesy of Trade-Alert

Commodities:

Disappointing export data out of China weighed on oil prices, with February-dated crude futures slipping 64 cents, or 1.2%, to settle at $52.37 per barrel. The commodity also dropped 3% for the week -- its first weekly decline in five weeks.

A stronger U.S. dollar snapped gold's four-session win streak, with February gold futures closing down $3.60, or 0.3%, at $1,196.20 an ounce. For the week, however, the contract added 1.9%.

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