Stocks got off to a rough start today, due to a weaker-than-expected jobs report from Automatic Data Processing (ADP), and a gross domestic product (GDP) report that sparked fears of a quicker-than-anticipated rate hike. In the immediate aftermath of the Federal Open Market Committee's (FOMC) dovish policy decision, though, the Dow Jones Industrial Average (DJI) made its way higher, briefly peeking above breakeven. Nevertheless, the blue-chip index ended the day with a modest loss. The S&P 500 Index (SPX) also spent time on both sides of breakeven, but settled fractionally higher.
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The Dow Jones Industrial Average (DJI - 16,880.36) gave back 31.8 points, or 0.2%, by day's end. Eleven Dow components finished north of breakeven, with Nike Inc (NYSE:NKE) leading the way, gaining 1.9%. Meanwhile, The Coca-Cola Company (NYSE:KO) paced the blue-chip index's 19 losers, shedding 1.8% by the close.
The S&P 500 Index (SPX - 1,970.07) added 0.12 point to eke out a slight win. Meanwhile, the Nasdaq Composite (COMP - 4,462.90) fared better than its peers, adding 20.2 points, or 0.5%.
The CBOE Volatility Index (VIX - 13.33) muscled 0.05 point, or 0.4%, higher, for a second consecutive daily close above 13.
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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