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DJIA Soars 267 Points, Extends Weekly Winning Streak Ahead of EU Summit - djia, bac, dow, spy, goog, s p 500

Nikkei 225 | 07:58 | 0 comments

DJIA Soars 267 Points, Extends Weekly Winning Streak Ahead of EU Summit - djia, bac, dow, spy, goog, s p 500

The Dow Jones Industrial Average (DJIA – 11,808.79) finished near a session high, advancing 267 points, or 2.3%, when all was said and done. Only Bank of America (BAC) and General Electric bucked the trend, giving up 0.2% and 1.9%, respectively, while Travelers (TRV) led the 28 advancing blue chips with a gain of 5.2%. For the week, the Dow rallied 1.4%, and ended north of its 20-week moving average for the first time since mid-July.


The S&P 500 Index (SPX – 1,238.25) also ended near an intraday acme, tacking on 22.9 points, or 1.9%, by the close. For the week, the SPX added 1.1%, extending its own winning streak to three straight, and ending above its 20-week trendline for the first time in three months. Finally, the Nasdaq Composite (COMP – 2,637.46) broke out of the red to gain 38.8 points, or 1.5%, but settled the week 1.1% lower.

Turning to equities in focus, Chipotle Mexican Grill (CMG) upped its expectations for same-store sales growth ... Capital One Financial (COF) stepped into the earnings limelight ... Informatica (INFA) offered a lackluster earnings forecast ... IBM Corp. (IBM) emerged as a potential blue-chip contrarian play ... Option players upped the bearish ante on Ctrip.com (CTRP) ... and today's Quote of the Day comes from Matt, one of the many job seekers to have made the pilgrimage to Williston, N.D. -- America's newest oil boomtown. As a result of the influx, though, oil companies haven't been able to build housing units at a fast enough pace, which has resulted in a semi-permanent tailgate party for the workers left out in the cold. Read More

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