The Dow Jones Industrial Average (DJI) traded in a tight 43-point range today, and ended just north of breakeven for its highest close ever. Meanwhile, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) mustered modest gains, with the former notching a record closing peak, and the latter touching a 14-year high of 4,788.00 in afternoon trading. The technical milestones were somewhat surprising, given the raft of economic data that hit the Street -- most of which missed estimates. Meanwhile, energy prices continued to head south in the run-up to tomorrow's Organization of Petroleum Exporting Countries (OPEC) gathering in Vienna, as hopes for a production cut are dimming. Looking ahead, U.S. markets are closed Thursday in observance of Thanksgiving.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 17,827.75) waffled above and below breakeven -- ultimately resolving to the upside by 12.8 points, or 0.1% -- for its highest-ever close. Twenty-two of the Dow's 30 components rose, led by Pfizer Inc.'s (NYSE:PFE) 2.1% rally. United Technologies Corporation (NYSE:UTX) paced the seven losers, shedding 1.4%, and Visa Inc (NYSE:V) was unchanged.
Meanwhile, the S&P 500 Index (SPX - 2,072.83) added 5.8 points, or 0.3%, for its loftiest close in history. Similarly, the Nasdaq Composite (COMP - 4,787.32) tacked on 29.1 points, or 0.6%, for new 14-year closing high -- in addition to its intraday peak of 4,788.00.
The CBOE Volatility Index (VIX - 12.07) surrendered 0.2 point, or 1.5%, but avoided closing below 12 -- despite touching an intraday low of 11.91.
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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