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.
Continue reading for more on today's market, including:
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
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: email@example.com
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.