Following a Fed-related surge higher, U.S. stocks exhibited choppy trading today, as investors refocused their attention back on the escalating tension in Iraq. President Barack Obama pledged to send assistance in the form of military advisers, and the commodities market responded in kind. Meanwhile, the Dow Jones Industrial Average (DJI) spent time on both sides of the flat line and closed marginally higher, and the S&P 500 Index (SPX) once again put new intraday and closing highs in the books.
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The Dow Jones Industrial Average (DJI - 16,921.46) bottomed out at 16,858.88 in the early afternoon, but fought higher into the close, ending with a gain of 14.8 points, or 0.1%. UnitedHealth Group Inc. (NYSE:UNH) rose 1.6% to pace the Dow's 17 advancers, while JPMorgan Chase & Co. (NYSE:JPM) and Nike Inc (NYSE:NKE) each slipped 0.8% to bring up the rear.
The S&P 500 Index (SPX - 1,959.48) continued its trek into previously unexplored territory, rising 2.5 points or 0.1%, and hitting a new intraday high of 1,959.87. The Nasdaq Composite (COMP - 4,359.33) slightly underperformed its index peers, shedding 3.5 points, or 0.1%, on the day.
The CBOE Volatility Index (VIX - 10.62) tagged another fresh seven-year low of 10.42 but closed in the black, up 0.1 point or 0.1%.
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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