Friday, December 26, 2014

Dow Jones breaks to new heights today

The Dow Jones Industrial Average (DJI - 18,053.71) hit the ground running, touching a new intraday high of 18,103.45 along the way, before settling up 23.5 points, or 0.1%, at its highest close to date. Twenty-one of the DJI's 30 components closed higher, led by a 1% pop for McDonald's Corporation (NYSE:MCD). Exxon Mobil Corporation (NYSE:XOM) paced the nine decliners with its 0.6% drop. On a weekly basis, the Dow tacked on 1.4%.
The S&P 500 Index (SPX - 2,088.77) closed up 6.9 points, or 0.3%, at a record high, and not before also tagging a fresh peak of 2,092.70 in intraday action. Along similar lines, the Nasdaq Composite (COMP - 4,806.86) rallied to a fresh 14-year high of 4,814.95, before settling up 33.4 points, or 0.7%. Week-over-week, the SPX and COMP each added 0.9%.
The CBOE Volatility Index (VIX - 14.50) tacked on 0.1 points, or 0.9%. On the week, though, the market's "fear gauge" gave back 12.1%.
CLOSING SUMMARY – INDICES

CLOSING SUMMARY – NYSE AND NASDAQ

5 Items on Our Radar Today:
  1. Saudi Arabia approved its 2015 budget that includes a modest rise in spending, despite a roughly $88 billion year-over-year decline in oil revenue. In order to offset the projected $39 billion deficit, the Finance Ministry has proposed reducing salaries and various other allowances, which make up roughly 50% of total budget expenditures. Additionally, the budget did not include the region's forecast for oil prices next year. (The New York Times)
  2. V said it has suspended operations in war-torn Crimea. "Due to the latest U.S. sanctions imposed against Crimea ... Visa is now prohibited from offering Visa-branded products and services to Crimea. This means that we can no longer support card issuing and merchant/ATM acquiring services in Crimea," the company said in a statement. On the charts, the equity hit a fresh record high of $269.32 in early trading, but lost this momentum by the close -- likely to the dismay of eleventh-hour option bulls. (Bloomberg Businessweek)
  3. Christmas Day network outages for both Sony Corp (ADR) (NYSE:SNE) and Microsoft Corporation (NASDAQ:MSFT) gaming consoles were linked to one hacker group, following the former's release of the controversial film "The Interview."
  4. One option bear bet big on Sears Holdings Corp (NASDAQ:SHLD) to continue its struggles over the long term.
  5. With a legal hurdle nearly behind it -- and earnings on the horizon -- QUALCOMM, Inc. (NASDAQ:QCOM) saw a rush of bullish betting in its options pits.
For a look at today's options movers and commodities activity, head to page 2.

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Dow Jones Industrial Average Breaks Out to New Highs; Small-Caps Steal the Show

Saudi Arabia projected a roughly $39 billion revenue shortfall in 2015

by 12/26/2014 4:24:08 PM
Stocks quoted in this article:
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STOCKS – NOTABLE CALL ACTIVITY

STOCKS – NOTABLE PUT ACTIVITY

Commodities:
Crude oil took it on the chin today, amid continued supply concerns. By the close, crude for February delivery was down $1.11, or 2%, at $54.73 per barrel. Week-over-week, crude surrendered 4.2%.
Gold moved higher as bargain hunters emerged in today's low-volume session. At the close, February-dated gold was up $21.80, or 1.9%, at $1,195.30 per ounce. On a weekly basis, however, the malleable metal closed fractionally lower.
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