Fed Hikes GDP Forecast, But...

The Dow couldn't keep its three-day ascent going

by 4/3/2012 4:40:21 PM
Stocks quoted in this article:
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Crude futures reversed their two-day climb today, swallowing a loss after the minutes from the latest FOMC meeting drowned hopes for additional monetary stimulus from the central bank. As the dollar strengthened on the news, crude oil for May delivery lopped off $1.22, or 1.2%, to settle at $104.01 a barrel.

Similarly, gold futures inched lower, as many speculators remained on the sidelines ahead of the FOMC minutes -- which were released after the commodity ended its regular session of trading. Gold for June delivery fell $7.70, or 0.5%, to land at $1,672 an ounce. In after-hours trading, following the Fed release, the precious metal extended its slide below the $1,650 level.

Levels to Watch in Trading:

  • Dow Jones Industrial Average (DJIA 13,199.55) - support at 11,500; resistance at 14,000
  • S&P 500 Index (SPX 1,413.31) - support at 1,100; resistance at 1,500
  • Nasdaq Composite (COMP 3,113.57) - support at 2,400; resistance at 3,400



OUTPERFORMING AND UNDERPERFORMING SECTORS

STOCKS  MOVERS

STOCKS  EARNINGS

STOCKS  NOTABLE CALL ACTIVITY

STOCKS  NOTABLE PUT ACTIVITY

STOCKS  NEW ANNUAL HIGHS

STOCKS  NEW ANNUAL LOWS

SCHAEFFER'S MARKET POSTURE


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