The DJIA shot up at the open after a strong nonfarm payrolls report
The Dow Jones Industrial Average (DJIA) jumped triple digits, with this morning's better-than-expected jobs data providing an early boost to stocks. A post-earnings rally for Visa Inc (NYSE:V) shares and President Donald Trump's executive orders aimed at diluting regulations on the banking industry -- which sparked a fire under financial stocks -- also served as a positive catalyst, bringing Dow 20,000 back in play. Elsewhere, a negative earnings reaction for e-tail giant Amazon.com, Inc. (NASDAQ:AMZN) did little to slow the S&P 500 Index (SPX) and Nasdaq Composite (COMP), with both stock market benchmarks climbing higher.
Continue reading for more on today's market, including:
- 18 stocks to watch if the Patriots lose the Super Bowl.
- Trump's threats aren't scaring options traders away from this Mexican ETF.
- Why it may be time to buy calls on these 2 finance stocks.
- Plus, making the bullish case for Zillow, the cybersecurity stock that soared, and why we didn't trade Fifth Third.
The Dow Jones Industrial Average (DJIA - 20,071.46) gained 186.6 points, or 0.9%, for the day. Of the 25 Dow winners, Visa led the way, gaining 4.6%, while Nike Inc (NYSE:NKE) brought up the rear among the five decliners, dropping 0.8%. For the week, though, the Dow slipped 0.1%.
The S&P 500 Index (SPX - 2,297.42) finished the day up 16.6 points, or 0.7%. Week-over-week, the SPX added 0.1%. The Nasdaq Composite (COMP - 5,666.77) rose 30.6 points, or 0.5%, for a weekly gain of 0.1%.
The CBOE Volatility Index (VIX - 10.97) fell 1 point, or 8.1%, paring its weekly gain to 3.7%.
5 Items on Our Radar Today
-
Lockheed Martin Corporation (NYSE:LMT) has agreed to produce 90
F-35 jets for the Pentagon in a deal valued at $8.5 billion -- the lowest price on record for the government program. LMT gave credit to
President Trump, who publicly criticized the cost of the aircrafts.
(Reuters)
-
Dollar General Corp. (NYSE:DG) said it will open 1,000 new locations and a pair of distribution centers in 2017 -- creating about 10,000 new jobs, or a 9% increase in its current workforce.
(USA Today)
- Bullish options traders may be overlooking uptrending Zillow Group, Inc. (NASDAQ:ZG).
- 4 reasons we didn't trade Fifth Third Bancorp (NASDAQ:FITB).
- The cybersecurity stock that soared 14% after earnings.
Data courtesy of Trade-Alert
Commodities
March-dated crude futures rose 29 cents, or 0.5%, to settle at $53.83 per barrel, as traders digested a third straight weekly rise in domestic rig counts, as well as newly imposed sanctions on Iran. For the week, oil prices added 1.2%.
April-dated gold futures gained $1.40, or 0.1%, to end the week at $1,220.80 per barrel. Gold was boosted by a falling greenback, which stumbled in the wake of this morning's nonfarm payrolls report. For the week, the precious metal gained 2.7% -- its biggest weekly advance since June.
Get your daily dose of Dow futures, stock news, and more with Schaeffer's Opening View.