After a dismal start, the Dow Jones Industrial Average (DJIA) made a strong push in the second half of the day -- and traded in positive territory for a short time -- but eventually finished slightly lower. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) both followed similar paths, closing well off their intraday lows. Also, for the fifth day in a row, crude shot higher, with conflicts in Yemen stoking supply worries. Likewise, safe-haven demand ushered gold to a seventh straight win. On the economic front, weekly jobless claims came in at their lowest point in over a month. For tomorrow, traders will be zeroed in on the final fourth-quarter gross domestic product (GDP) figures.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 17,678.23) was down almost 140 points at its session low, but ultimately pared its loss to 40.3 points, or 0.2%, for a fourth straight drop. Of the Dow's 30 components, seven moved higher, led by International Business Machines Corp.'s (NYSE:IBM) 0.9% gain. American Express Company (NYSE:AXP) was the biggest loser, dropping 2%.
The S&P 500 Index (SPX - 2,056.15) peeked above breakeven in afternoon action, but fell 4.9 points, or 0.2%, by the close. The Nasdaq Composite (COMP - 4863.36) lost 13.2 points, or 0.3%, after being down 50 points out of the gate.
The CBOE Volatility Index (VIX - 15.80) jumped again today, adding 0.4 point, or 2.3%.
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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