The bearish stars aligned today, as traders digested a smaller-than-expected rise in consumer spending, as well as a slimmer-than-anticipated drop in weekly jobless claims. In addition, St. Louis Fed President James Bullard made a cameo on Fox Business, hinting of a rate hike on the horizon sooner than projected. Amid relatively light volume, the Dow Jones Industrial Average (DJIA) was down triple digits at its intraday low, but traders emerged from the sidelines in the final hours of the session (which just happened to coincide with the final whistle of a certain "football match"), helping the blue-chip barometer pare its loss to 21 points.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 16,846.13) was down more than 100 points at its intraday low, but a late-session rebound trimmed the index's loss to 21.4 points, or 0.1%. Seven of the Dow's 30 components ended higher, led by The Boeing Company's (NYSE:BA) 0.8% gain. AT&T Inc. (NYSE:T) finished flat, while Wal-Mart Stores, Inc. (NYSE:WMT) and The Procter & Gamble Company (NYSE:PG) paced the decliners, giving up 0.9% apiece.
The S&P 500 Index (SPX - 1,957.22) trekked a similar path, paring its loss to just 2.3 points, or 0.1%, by the close. The Nasdaq Composite (COMP - 4,379.05) once again fared the best of its peers, settling with a fractional loss.
The CBOE Volatility Index (VIX - 11.63) spent time on both sides of breakeven, but ultimately resolved to the upside, adding 0.4%.
5 Items on Our Radar Today:
For a look at today's options movers and commodities activity, head to page 2.
Why OIH Is Finding Key Support at $52
Featured Partners: AOL DailyFinance
© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: firstname.lastname@example.org
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.