Stocks slipped across the board today, and the Dow Jones Industrial Average (DJI) surrendered its foothold above 17,000 in the opening minutes of the session. With second-quarter earnings season about to kick off -- and the minutes from the latest Federal Open Market Committee Meeting (FOMC) due out tomorrow -- traders played it safe by taking some money off the table. "Riskier" sectors were particularly vulnerable, as some of the steepest losses were swallowed by tech names, social media stocks, and small-caps. In fact, by the time the dust settled, the Russell 2000 Index (RUT) was off 1.2%.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 16,906.62) ended the day on a deficit of 117.6 points, or 0.7%, as 26 of its 30 components declined. The Boeing Company (NYSE:BA) shed 1.8% to pace the laggards, while Wal-Mart Stores, Inc. (NYSE:WMT) tacked on 0.8% to lead the three advancing issues. AT&T Inc. (NYSE:T) finished perfectly flat.
The S&P 500 Index (SPX - 1,963.71) gave up 13.9 points, or 0.7%, while the Nasdaq Composite (COMP - 4,391.46) fell 60.1 points, or 1.4%.
The CBOE Volatility Index (VIX - 11.98) popped higher, rising 0.7 point, or 5.7%. As a result, the "fear index" settled above its 40-day moving average for the first time since June 16.
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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