The major market indexes bobbed on both sides of breakeven today, as the month of June and the second quarter came to an end. While the earnings slate was bare, investors spent the day digesting mixed results from the National Association of Realtors' pending home sales index and the Chicago purchasing managers index (PMI). Against this backdrop, the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) finished the session just a tad lower, but notched solid wins for the month and the quarter.
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The Dow Jones Industrial Average (DJI - 16,826.60) found its way above breakeven a few times throughout today's session, but spent most of the time wavering in the red, and at the close, the index remained 25.2 points, or 0.2%, lower -- but managed to rise 0.7% in June and 2.2% for the quarter. Microsoft Corporation (NASDAQ:MSFT) paced the 19 declining Dow members with a 1.3% loss, while Visa Inc (NYSE:V) led the 10 gainers with a rise of 0.7%. DuPont (NYSE:DD) finished flat.
The S&P 500 Index (SPX - 1,960.23) ended the session 0.7 point, or 0.04%, lower, while the Nasdaq Composite (COMP - 4,408.18) flew to a 14-year high of 4,417.46 this afternoon, and closed the session 10.3 points, or 0.2%, higher. Nevertheless, both indexes earned decent monthly and quarterly wins. The SPX advanced 1.9% for the month and 4.7% over the April-June period, while the COMP led the pack by jumping 3.9% in June and nearly 5% for the quarter.
The CBOE Volatility Index (VIX - 11.57) jumped 0.3 point, or 2.8%, on the day. The "fear index" added 1.5% in June, but fell 16.6% during the second quarter.
5 Items on Our Radar Today:
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The Case for Big Moves in IWM and QQQ
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