Investors spent a data-free quadruple-witching Friday combing over a handful of earnings reports and tracking the latest developments out of Iraq. Geopolitical concerns did not prohibit the major indexes from rallying to new highs, however, as both the Dow Jones Industrial Average (DJI) and the S&P 500 Index (SPX) tagged new all-time and closing peaks.
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The Dow Jones Industrial Average (DJI - 16,947.08) tagged a new intraday high of 16,978.02 before closing up 25.6 points, or 0.2%. On a weekly basis, the blue-chip index gained 1%. Nineteen of the Dow's components closed higher today, paced by Caterpillar Inc. (NYSE:CAT), which jumped 2%. Pacing the declining minority was The Walt Disney Company (NYSE:DIS), which logged a 1.1% loss.
Also nabbing a new all-time high was the S&P 500 Index (SPX - 1,962.87), which extended to 1,963.91 before closing just shy of this level, up 3.4 points, or 0.2%. The Nasdaq Composite (COMP - 4,368.04) rose to another 14-year closing high, ending 8.7 points, or 0.2%, higher on the day. The SPX gained 1.4% for the week, while the COMP added 1.3%.
The CBOE Volatility Index (VIX - 10.85) hit a new seven-year low of 10.34 in intraday trading -- and also moved north of the 11 mark, to 11.02 -- but ultimately closed up 0.2 point, or 2.2%, but closed the week 10.9% lower.
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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