Schaeffer's Top Stock Picks for '25

Dow Jones Industrial Average Closes Higher Ahead of Comey

Watch This ETF Ahead of Europe's Big Day

Jun 7, 2017 at 4:28 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) traded in a 76-point range, eventually settling in positive territory after the release of former FBI Director James Comey's prepared congressional testimony. Comey will testify before the Senate Intelligence Committee tomorrow -- one of several potentially explosive global events making up "Super Thursday," which will also include a European Central Bank (ECB) policy update and a general election in the U.K. -- following today's testimony from several high-ranking intel officials. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) also closed higher for the first time this week, even as oil prices crumbled in the wake of the latest U.S. inventories update.

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

  • The ETF to watch ahead of Europe's big day.
  • This retail stock could make a huge move tomorrow.
  • Analyst: Higher highs ahead for Apple stock.
  • Plus, time to buy this drink stock; the regulatory nod boosting Calithera Biosciences; and heavy options trading in the semiconductor sector.

The Dow Jones Industrial Average (DJIA - 21,173.69) settled near its session high, up 37.5 points, or 0.2%. Nike stock paced the 17 Dow advancers with its 1.4% gain, while Coca-Cola brought up the rear with its 1% drop.

The S&P 500 Index (SPX - 2,433.14) added 3.8 points, or 0.2%, while the Nasdaq Composite (COMP - 6,297.38) rose 22.3 points, or 0.4%.

The CBOE Volatility Index (VIX - 10.39) edged down 0.06 point, or 0.6%.

closing indexes summary june 7

nyse and nasdaq stats june 7

5 Items on Our Radar Today:
  1. President Trump nominated Christopher Wray to be the new FBI director. Wray, who would succeed ousted Comey upon confirmation, oversaw the Enron Task Force, and represented New Jersey Governor Chris Christie during the 2013 investigation of lane closings on the George Washington Bridge. (Bloomberg)
  2. Consumer credit increased by its smallest margin in nearly six years in April, rising $8.2 billion to a seasonally adjusted $3.82 trillion -- roughly half of what was expected. Nonrevolving credit, which consists of education and car loans, grew at its slowest pace since 2011, suggesting a second-quarter rebound in spending may be tempered. (MarketWatch)
  3. BMO weighed in on a number of drink stocks today, saying this one is at an "attractive entry point."
  4. Calithera Biosciences stock boomed after the Food and Drug Administration (FDA) granted fast-track status to its cancer drug.
  5. Options traders were quick to trade calls on Micron and Advanced Micro Devices, as the semiconductor stocks continued to surge.

corporate earnings june 7

unusual options activity june 7
Data courtesy of Trade-Alert

Commodities

Oil prices plunged, after the Energy Information Administration (EIA) said domestic crude supplies unexpectedly rose by 3.3 million barrels last month, while gasoline and distillate stockpiles also jumped. Following a delayed settlement, July-dated crude futures closed down 5.1%, or $2.47, at $45.72 per barrel -- the lowest close since May 4.

Gold snapped its three-session winning streak, as the U.S. dollar gained ground. August-dated gold dropped 0.3%, or $4.30, to settle at $1,293.20 an ounce. 

 
 

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

10 Stock Picks FREE
 
 

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade.  Professional traders have rushed into the market and are making a mint.  Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.

 

 
 

FREE Report Download

 

Follow us on X, Follow us on Twitter