"The best thing about today's market was the fact that the major indexes rebounded, snapping three days of consecutive losses in the S&P 500 Index (SPX)," noted Schaeffer's Senior Options Strategist Tony Venosa, CMT. "The technology sector drove today's action, as high-momentum solar and disk-drive names outperformed." Meanwhile, investor optimism ahead of this week's employment data helped lead the Dow Jones Industrial Average (DJI) to a triple-digit advance.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 16,530.94) shot higher out of the gate -- and remained in the green for the entire day -- before finishing 105.8 points, or 0.6%, higher. The blue-chip bellwether's 24 advancers were led by UnitedHealth Group Inc.'s (NYSE:UNH) 3.1% gain, while JPMorgan Chase & Co. (NYSE:JPM) paced the six laggards with a drop of 1.2%.
The S&P 500 Index (SPX - 1,837.88) also spent the day north of breakeven, and tacked on 11.1 points, or 0.6%, by the closing bell. Meanwhile, the Nasdaq Composite (COMP - 4,153.18) advanced 39.5 points, or 1%.
Elsewhere, the CBOE Volatility Index (VIX - 12.92) stumbled at the start of the session, and ended 0.6 point, or 4.7%, lower on the day.
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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