The Dow rose above 28,000 for the first time ever
Stocks finished out the week with a strong performance, as the Dow, S&P 500, and Nasdaq all hit record highs -- and the former made its first-ever trek above 28,000. The bullish bias was stoked by upbeat trade talk and well-received retail sales, while investors also kept tabs on all the impeachment hearing headlines out of Washington. Today's gains only added to a strong weekly performance for the major indexes, which extended their weekly winning streaks.
Continue reading for more on today's market, including:.
- AMD stock kept its huge winning streak alive.
- A REIT that could record new highs next month.
- Plus, options markets awaits Kohl's earnings; 2 hot stocks with heavy call trading; and communications stock has horrible week.
The Dow Jones Industrial Average (DJI - 28,004.89) added 222.93, or 0.8%, with 24 of its 30 components closing higher. UnitedHealth (UNH) led the way with a 5.3% rally, and Walt Disney (DIS) paced the six losers with a 1.7% loss. The Dow ended the week up 1.2%.
The S&P 500 Index (SPX - 3,120.46) rose 23.8 points, or 0.8%, and the Nasdaq Composite (IXIC - 8,540.83) added 61.8 points, or 0.7%. The S&P added 0.8% for the week, and the Nasdaq picked up 0.7%.
The Cboe Volatility Index (VIX - 12.05) dipped 1 point, or 7.7%, ending the week down 0.2%.
5 Items on Our Radar Today
- Freezing temperatures in Canada are compounding a shortage in canola. Canola is Canada's most profitable crop, and sliding canola futures are only making the problem worse for the industry. (Reuters)
- Healthcare stocks got a boost today as President Donald Trump discussed a plan to make hospitals disclose some prices they negotiate with insurers. While the rule is expected to go into effect in 2021, it'll likely face legal challenges. (CNBC)
- Options traders are gearing up for the Kohl's earnings release.
- 2 surging stocks that saw heightened call activity.
- The communications stock that had a horrible week.
Oil Prices Post Weekly Gain
Oil prices pushed higher today as data suggested a decline in production. December crude futures finished up 95 cents, or 1.7%, at $57.72 per barrel -- putting the weekly gain at 0.8%.
Gold prices struggled as stocks pushed higher. December gold futures finished down $4.90, or 0.3%, at $1,468.50 an ounce. Gold's weekly gain was 0.7%.