Dow Up 155 After a Day of Steady Gains
The Dow was up 155.93 today, recovering from Friday's dip to continue into record levels. It closed at 18,288.63. The NASDAQ made steady gains, adding 44.57 points. The S&P 500 was up 12.89 to close at 2,117.39. Overseas trading today was mixed, with London and France both down. Hong Kong's Hang Seng gained 65.
Big Profits From Volatility In Energy. The energy sector as a whole had a good day today, falling only -0.44% despite big losses in the drilling segment. Murphy Oil (MUR) was down -1.78 points to 49.11, a loss of 3.50%.
Murcko pointed out that volatility can be your friend, and wrote on his website at BusinessDictionary.com that "Many investors think volatility is the same thing as risk, but it's not. Being risk-averse doesn't mean avoiding volatility."
Avon Up On Domestic Sales. After taking a tumble over missed expectations in overseas sales, Avon (AVP) staged a partial recovery today. The health and beauty giant gained 4% on domestic sales, adding $0.35 to the share price to close the day at 8.86.
BioScrip Down On Bad Earnings. Despite gains in the health services sector as a whole, small-cap nursing and services provider BioScrip (BIOS) lost almost 15% today on chronic missed earnings. The stock hit $5.20 per share at the end of trading today, after having lost -0.91 this morning.
GoPro Continues To Fall. Despite being one of the hottest camera brands on the market, GoPro (GPRO) has been down on the news that another company is entering its niche. Chinese company Xiaomi released a rugged, waterproof knockoff that will likely hurt sales. GoPro (GRPO) fell -2.05 points to 39.93 on the news, and is down 10% in two days.
A Strong-Dollar Day In Commodities. High demand drove the price for pork and beef futures up today, but everything else was down. A strengthening dollar has been hard on exports in the commercial sector, and domestic demand can only push futures prices so far. A new ceiling on corn, soy, and wheat could be in play by the summer.
GameStop Could Hit 40. Video game retailer GameStop (GME) rose $1.70 per share today, to close at 38.67. Sales were up last quarter due to the recovering consumer economy, and the company is positioned toward growth.