The Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) hit the ground running in July. Both indexes notched fresh record highs in afternoon trading, and closed the session in positive territory. Inspiring today's rally were well-received manufacturing reports both at home and in China, as well as stronger-than-expected U.S. auto sales data.
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The Dow Jones Industrial Average (DJI - 16,956.07) shot to an all-time high of 16,998.70 -- within arm's reach of the round-number 17,000 mark -- and finished the session with a gain of 129.5 points, or 0.8%. International Business Machines Corp. (NYSE:IBM) enjoyed the biggest move among the 26 advancing Dow members with a 2.8% uptick, while Goldman Sachs Group Inc (NYSE:GS) paced the four decliners with a 0.6% dip on the day.
The S&P 500 Index (SPX - 1,973.32) reached a record peak at 1,978.58, and closed the session 13.1 points, or 0.7%, higher. The Nasdaq Composite (COMP - 4,458.65) touched another 14-year high at 4,471.60, and maintained a 50.5 point, or 1.1%, gain at the closing bell.
The CBOE Volatility Index (VIX - 11.15), on the other hand, had a poor start to the month, losing 3.6%.
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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