Stocks took diverging paths today, with the S&P 500 Index (SPX) notching a new all-time high and the Nasdaq Composite (COMP) rallying in the wake of some solid, high-profile tech earnings. The Dow Jones Industrial Average (DJI), on the other hand, was dragged lower by a poorly received earnings report from The Boeing Company (NYSE:BA) and more expired-meat drama for McDonald's Corporation (NYSE:MCD). In addition, a downwardly revised U.S. economic growth forecast from the International Monetary Fund (IMF) -- not to mention lingering geopolitical concerns -- kept blue-chip buyers on the sidelines, with the Dow settling on a 27-point drop.
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The Dow Jones Industrial Average (DJI - 17,086.63) gave up 26.9 points, or 0.2%, as 20 of its 30 components ended lower. BA paced the declining equities, shedding 2.3%, while Goldman Sachs Group Inc (NYSE:GS) and Chevron Corporation (NYSE:CVX) led the advancing minority with gains of 1% apiece.
The S&P 500 Index (SPX - 1,987.01) rallied to a record high of 1,989.23 out of the gate, but pared its gain to 3.5 points, or 0.2%, by the close. The Nasdaq Composite (COMP - 4,473.70) once again fared the best of its peers, tacking on 17.7 points, or 0.4%.
The CBOE Volatility Index (VIX - 11.52) shaved 0.7 point, or 5.9%, halting its four-session stretch atop the 12 level. The market's "fear gauge" also ended south of its 20-day moving average for just the second time since July 7.
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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