The Dow Jones Industrial Average (INDEXDJX:DJI) suffered yet another sizable loss, as traders digested the latest round of economic reports. Data was largely mixed, highlighted by a cautiously optimistic Beige Book and an underwhelming ADP employment report -- which is generally considered a precursor to Friday's nonfarm payrolls report from the Labor Department. Meanwhile, Chicago Fed President Charles Evans made headlines, calling on the central bank to delay interest rate hikes until 2016 due to low inflation.
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The Dow Jones Industrial Average (DJI - 18,096.90) dropped 106.5 points, or 0.6% -- and breached the 18,100 century level for the first time since Feb. 19 -- to register its second straight loss. Six of the blue-chip index's 30 components finished higher, paced by UnitedHealth Group Inc.'s (NYSE:UNH) 1% win. American Express Company (NYSE:AXP) and Visa Inc (NYSE:V) led the 23 losers, surrendering 1.6% apiece. Chevron Corporation (NYSE:CVX) was flat.
The S&P 500 Index (SPX - 2,098.53) fell below the 2,100 mark, giving back 9.3 points, or 0.4%. The Nasdaq Composite (COMP - 4,967.14) ended 12.8 points, or 0.3%, lower.
The CBOE Volatility Index (VIX - 14.23) snapped its streak of sub-14 finishes, tacking on 0.4 point, or 2.7%.
5 Items on Our Radar Today:
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The Case for Big Moves in IWM and QQQ
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