The Dow closed just 25 points higher
The Dow closed over 25 points higher today, while the S&P 500 and Nasdaq finished the day in the black as well, with all three indexes scoring their third-straight wins after Monday's sell-off. However, further gains were pared by higher-than-expected jobless data. Initial jobless claims came in at 419,000 last week, compared to the 350,000 expected by analysts. Meanwhile, several strong earnings reports permeated the market, as well as a generally positive day for Big Tech.
Continue reading for more on today's market, including:
- Options traders cozied up to CROX after earnings.
- Breaking down the popular options strategy, butterfly spreads.
- Plus, SHOP's record high; Schaeffer's latest Market Mashup podcast; and support in place for LOGI.
The Dow Jones Average (DJI - 34,823.35) rose 25.4 points, or 0.1%. Of the 30 Dow components, Salesforce.Com (CRM) was at the top of the list today, adding 2.6%, while Travelers (TRV) landed at the bottom of the list with a 2.7% drop.
Meanwhile, the S&P 500 Index (SPX - 4,367.48) gained 8.8 points, or 0.2%, and the Nasdaq Composite (IXIC - 14,684.60) tacked on 52.6 points, or 0.4%.
Lastly, the Cboe Volatility Index (VIX - 17.69) lost 0.2 point, or 1.2% for the day.
- Behind the 10% surge in coffee futures today, their biggest single-session jump in seven years. (Marketwatch)
- The $1.2 trillion bipartisan infrastructure plan faced a setback in the Senate, but could soon get another chance to move forward. (CNBC)
- Bull notes boosted SHOP to fresh all-time highs.
- How our AMD recommendation notched a 201% return, with Senior Market Strategist Chris Prybal.
- LOGI is one of four stock picks selected to celebrate Schaeffer's 40th anniversary.
Oil, Gold Rise
Oil prices rose for the third-straight day, as investors continue to weigh tighter supply against a potential drop in demand amid the recent Covid-19 delta variant surge. The new front-month contract, September-dated crude, rose $1.61, or 2.3%, to settle at $71.91 a barrel.
Gold futures finished slightly higher after a relatively placid day of trading, as Treasury yields declined, and global markets eyed the European Central Bank's (ECB) latest monetary policy announcement. August-dated gold added $2, or 0.1%, to settle at $1,805.40 an ounce.