The Dow Jones Industrial Average (INDEXDJX:DJI) and S&P 500 Index (SPX) posted their third straight day of gains, as well as their second-best week in almost two years -- still benefiting from Wednesday's accommodative Fed policy statement. What's more, the Dow rebounded from its worst week in three years. Leading the market higher today were energy stocks, with blue chips Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) tacking on 3.6% and 2.7%, respectively. Looking ahead, despite next week's holiday-shortened calendar, there will plenty of economic data to digest, including the latest durable goods orders and the final reading on third-quarter gross domestic product (GDP).
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 17,804.80) spent almost the entire day in the green, and by the close, was up 26.7 points, or 0.2%, for its third straight daily victory. In fact, the blue-chip index had its second-best week in nearly two years, advancing 3%. Eighteen of 30 Dow components ended higher, led by a 3.6% gain at CVX. On the flip side, Nike Inc (NYSE:NKE) paced the 12 losers, giving back 2.3%.
The S&P 500 Index (SPX - 2,070.65) advanced 9.4 points, or 0.5%, helping the broader index to its second-best week in close to two years. The Nasdaq Composite (COMP - 4,765.38) popped roughly 17 points, or 0.4%. For the week, the SPX and COMP gained 3.4% and 2.4%, respectively.
The CBOE Volatility Index (VIX - 16.49) ended 0.3 point, or 1.9%, lower on the day, and was down 21.8% for the week.
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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