Big Daily Gain for Dow as Defense, Tech Stocks Rally

The Dow Jones Industrial Average (DJIA) ended higher today for the second session in a row , with aerospace giant Boeing ( BA ) among the notable gainers after President Trump’s Monday night speech pointed to an imminent troop surge in Afghanistan. While the Dow racked up its biggest daily point gain since April, the Nasdaq Composite (COMP) also surged, ending its three-session losing streak as tech stocks rallied.

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

  • The Dow stat pointing to new record highs .
  • FireEye weekly options traders  bet on a quick comeback.
  • 3 stocks that sold off after earnings.
  • Plus, the oil stock at “an attractive entry point”; Credit Suisse weighs in on JinkoSolar; and traders are betting on a big move from Lowe’s stock.

The  Dow Jones Industrial Average (DJIA– 21,899.89)  gained a whopping 196.1 points, or 0.9%, as 26 of its 30 stocks ended higher. Caterpillar ( CAT ) and Cisco Systems ( CSCO ) paced the winners with nearly 2% gains, while Intel ( INTC ) led the 3 losers with a 0.8% loss. American Express ( AXP ) ended the day flat.

The  S&P 500 Index (SPX – 2,452.51) gained 24.1 points, or 1%. The tech-heavy  Nasdaq Composite (COMP – 6,297.48) broke its losing streak, gaining 84.4 points, or 1.4%. 

The  CBOE Volatility Index (VIX – 11.35) fell 1.8 points, or nearly 14%, to collect its lowest daily close since Aug. 9. 

Closing indexes Summary August 22

NYSE & Nasdaq August 22

5 Items on Our Radar Today

  1. According to Republican congressional aides, there has been discussion of the GOP budget using a “current policy” baseline to add $450 billion in tax cuts without offsetting spending cuts. The alleged maneuver is expected to meet with harsh reactions from deficit hawks and members of the Democratic minority. ( Bloomberg )
  2. The  Powerball jackpot has reached its second-highest amount on record, hitting $700 million as of Tuesday afternoon. The jackpot is likely to grow even higher ahead of Wednesday night’s drawing. ( CNBC )
  3. One upbeat analyst called PXD’s new annual low ” an attractive entry point .”
  4. How Credit Suisse reacted to JinkoSolar’s ugly day .
  5. Lowe’s options are pricing in a bigger-than-usual post-earnings move.
READ ---  D.C. and Maryland to sue President Trump, alleging breach of constitutional oath

Corporate Earnings Chart August 22

Unusual Options Activity August 22
Data courtesy of  Trade-Alert

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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