The major market indexes didn't stray too far from breakeven today, as a light economic calendar provided little direction. The Thomson Reuters/University of Michigan's consumer sentiment index was the lone report of the session, but the survey's bigger-than-expected increase in June failed to sway traders one way or another. Against this backdrop, and thanks to another late-session push higher, the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) eked out modest gains by the close, but ended the week on the downside.
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The Dow Jones Industrial Average (DJI - 16,851.84) spent most of the session in the red, but an eleventh-hour push helped the blue-chip barometer eke out a gain of 5.7 points, or 0.03%. Microsoft Corporation (NASDAQ:MSFT) paced the 20 advancing Dow components, adding 1.3%, while DuPont (NYSE:DD) blazed the trail lower, surrendering 3.3% after issuing lackluster earnings guidance. For the week, the Dow dropped 0.6%.
The S&P 500 Index (SPX - 1,960.96) also muscled into the black in the final minutes of trading, gaining 3.7 points, or 0.2%, by the close. The Nasdaq Composite (COMP - 4,397.93) once again left its comrades in the dust, notching a gain of 18.9 points, or 0.4%. For the week, the SPX gave up 0.1%, while the COMP advanced 0.7%.
The CBOE Volatility Index (VIX - 11.26) dropped 0.4 point, or 3.2%, on the day, but managed a 3.8% gain for the week.
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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