Schaeffer's Top Stock Picks for '25

Stocks Swing Higher on U.S.-China Trade Buzz

U.S. stocks closed higher for a third straight day

Jan 17, 2019 at 4:34 PM
facebook X logo linkedin


Stocks started the day in negative territory, thanks to a dismal earnings report from Morgan Stanley (MS) and reports of a potential U.S. investigation into Chinese tech firm Huawei. However, the major indexes swung higher in afternoon trading, after a Wall Street Journal report suggested the U.S. is considering lifting tariffs on China to accelerate a potential trade deal. While the Dow, S&P 500, and Nasdaq finished off their intraday peaks after the Treasury Department refuted the report, all three closed higher for a third straight session.

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

The Dow Jones Industrial Average (DJI - 24,370.10) was up 267 points at its intraday peak, before settling with a 162.9-point, or 0.7%, gain. DowDuPont (DWDP) paced the 24 advancers with its 3% climb, while Home Depot (HD) led the six decliners with its 1.2% drop.

The S&P 500 Index (SPX - 2,635.96) added 19.9 points, or 0.8%, for a third straight close above its 40-day moving average, while the Nasdaq Composite (IXIC - 7,084.46) rose 49.8 points, or 0.7%.

The Cboe Volatility Index (VIX - 18.06) shed 1 point, or 5.1%, for its lowest settlement since Dec. 3.

Closing Indexes Jan 17

NYSE and Nasdaq Jan 17

5 Items on our Radar Today

  1. The Food and Drug Administration (FDA) said it is streamlining the labeling process for naloxone, a prescription drug used to treat opioid overdoses, in order to encourage companies to develop over-the-counter versions of the costly treatment. In a statement, FDA Commissioner Scott Gottlieb said, "Increased availability of naloxone for emergency treatment of overdoses is an important step." (CNBC)
  2. President Donald Trump told U.S. House Speaker Nancy Pelosi to fly commercial for her planned trip to Belgium, Egypt, and Afghanistan, citing the partial government shutdown in a letter to the California Democrat. This follows Pelosi's request that POTUS reschedule the State of the Union address as the shutdown creates "security concerns." (Reuters; MarketWatch)
  3. A fresh FAANG partnership boosted Fossil stock.
  4. These 2 chip stocks nabbed new "buy" ratings today.
  5. Cars.com soared on news the company could put itself up for sale.

Corporate Earnings for Jan 17

Unusual Options Activity Jan 17

Data courtesy of Trade-Alert

Oil Falls After OPEC Data

Oil fell today, even as data showed the Organization of the Petroleum Exporting Countries (OPEC) cut production in December. February-dated crude futures gave back 24 cents, or 0.5%, to close at $52.07 per barrel.

Gold gave back a portion of Wednesday's gains following a batch of relatively upbeat economic data. Gold futures for February delivery fell $1.50, or 0.1%, to settle at $1,292.30 an ounce.

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?

 

 

(function(doc, script) { var js, fjs = doc.getElementsByTagName(script)[0], frag = doc.createDocumentFragment(), add = function(url, id) { if (doc.getElementById(id)) {return;} js = doc.createElement(script); js.src = url; id && (js.id = id); frag.appendChild( js ); }; // Google+ button //add('https://apis.google.com/js/platform.js', async="defer"); // Facebook SDK add('//connect.facebook.net/en_US/all.js#xfbml=1&appId=772755279557744', 'facebook-jssdk'); // Twitter SDK //add('//platform.twitter.com/widgets.js', charset='utf-8'); fjs.parentNode.insertBefore(frag, fjs); }(document, 'script'));