Weaker-than-expected economic data couldn't keep stocks down today. A steeper-than-anticipated drop in durable goods didn't faze the bulls, and optimism prevailed despite a sharper-than-estimated contraction in first-quarter gross domestic product (GDP). By the close, the Dow Jones Industrial Average (DJIA) pared a portion of Tuesday's losses, with most major market indexes settling near their intraday highs.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 16,867.51) advanced 49.4 points, or 0.3%, as 23 of its 30 components ended higher. Nike Inc (NYSE:NKE) enjoyed a 2% jump ahead of tomorrow's earnings release, leading the advancing blue chips, while The Boeing Company (NYSE:BA) paced the declining minority with a 1.6% retreat.
The S&P 500 Index (SPX - 1,959.53) settled near its session high, adding 9.6 points, or 0.5%. The Nasdaq Composite (COMP - 4,379.76) fared the best of its peers, gaining 29.4 points, or 0.7%, by the bell.
The CBOE Volatility Index (VIX - 11.59) moved back below the 12 level, shedding 0.5 point, or 4.5%.
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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