"Overall, it was a pretty mixed day without a lot of net movement," said Schaeffer's Senior Equity Analyst Joe Bell, CMT. "We received a disappointing housing number this morning, which led to homebuilders underperforming. In addition, there was news overnight that the Bank of Japan made no changes to its interest rate, but did expand its lending facility. The yen has been receiving a lot of attention lately, as many point to the yen-based carry trade as being a big driver of this market." By the time the dust settled, the Dow Jones Industrial Average (DJI) gave back 24 points, while tech stocks extended their winning streak.
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The Dow Jones Industrial Average (DJI - 16,130.40) spent most of the session south of breakeven, ending with a loss of 24 points, or 0.2%. Exactly half of the index's 30 blue chips finished lower, with The Coca-Cola Company's (NYSE:KO) earnings-induced swoon of 3.8% pacing the decliners. Financial concerns Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase & Co. (NYSE:JPM) led the advancers, tacking on 0.6% apiece.
The S&P 500 Index (SPX - 1,840.76) fared better, adding 2.1 points, or 0.1%. The Nasdaq Composite (COMP - 4,272.78) outperformed its peers, gaining 28.8 points, or 0.7%, to end higher for the eighth straight session.
The CBOE Volatility Index (VIX - 13.87) advanced 0.3 point, or 2.2%, but remained south of the 14 mark.
A Trader's Take:
"Healthcare stocks received a boost after some M&A activity was announced this morning, and small-cap stocks once again took a leadership role," Bell added. "This is a good sign, as they lagged for much of the past several weeks."
5 Items on Our Radar Today:
For a look at today's options movers and commodities activity, head to page 2.
Recent XIV Action May Bode Well for Bulls
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