"It was a very quiet day on Wall Street, with below-average volume," said Schaeffer's Senior Equity Analyst Joe Bell, CMT. "Between the holiday week and the big storm in the northeastern part of the United States, we really experienced a lack of participation. The technology-rich Nasdaq Composite (COMP) slightly lagged the rest of the market, as Apple Inc. (NASDAQ:AAPL) -- a large component in the index -- was down 2.2%. Elsewhere, financials and industrials were the real standouts today, and airline stocks logged another impressive session." Meanwhile, the Dow Jones Industrial Average (DJI) advanced for the day, but edged lower for the week.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 16,469.99) experienced some choppy price action throughout the session, but finished 28.6 points, or 0.2%, higher on the day. For the week, however, the blue-chip index shed roughly 0.1%. The Dow's 15 advancers were led by Johnson & Johnson (NYSE:JNJ) -- which gained 0.9% -- while Verizon Communications Inc. (NYSE:VZ) led the 15 laggards with a drop of 1.2%.
The S&P 500 Index (SPX - 1,831.37) spent time on both sides of breakeven, and ended up closing with a modest loss of 0.6 point, or 0.03%. Meanwhile, the Nasdaq Composite (COMP - 4,143.91) fell 11.2 points, or 0.3%. On a weekly basis, the indexes lost 0.5% and 0.6%, respectively.
Elsewhere, the CBOE Volatility Index (VIX - 13.76) stumbled at the start of the session, and finished 0.5 point, or 3.3%, lower. Week-over-week, however, the "fear barometer" advanced 10.4%.
5 Items on Our Radar Today:
For a look at today's options movers and commodities activity, head to page 2.
The Case for Big Moves in IWM and QQQ
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