Witching Wackiness, Stocks Mixed, Energy Down
Quadruple Witching sent stocks on a wacky roller coaster ride today. Shares of the DJIA spent the morning in positive territory until the weight of falling oil and general expiration day volatility shoved the index into the red until the close. A Goldman upgrade of Microsoft kept the Nasdaq in positive ground for the session. The DJIA gave back -15.87 to 8539.73, the Nasdaq advanced +19.75 to 1827.47 and the S&P 500 climbed +2.86 to 921.23.
China Medical
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PowerRating) – Advanced 8.91% or $2.07 to $24.96 after fourth quarter profits crushed last years.
Microsoft
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PowerRating) – A slot on Goldman’s “Conviction Buy” list sent shares higher by 2.43% or .57 cents to $24.07.
Smith & Wesson
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PowerRating) – The storied gun maker announced a $200 million dollar backlog sending shares surging 22.31% or $1.10 to $6.03.
Teekay Tankers
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PowerRating) – Dropped 13.29% or $1.41 to $9.20/share after saying it will issue shares to pay down debt and invest in a new ship.
Oil fell $1.82 to $69.58, gold added 1.60 to $936.20 and the VIX index plummeted 6.79% to 27.99.
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