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Market Recap: Greek Debt Anxiety Holds Stocks Near Breakeven

The SPX eked out win, while the DJIA and COMP inched lower

by 1/23/2012 4:30:18 PM
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Crude-oil futures ended their three-day slump today, but were unable climb back atop $100. The EU's newly imposed oil embargo on Iran was a major catalyst for the jump, although optimism surrounding a potential deal in financially strapped Greece strengthened did its part to add to black gold's gains. Against this backdrop, March-dated crude oil rose $1.25, or 1.3%, to close at $99.58 a barrel.

Gold futures extended last week's win with a six-week high settlement today. The malleable metal's climb solidified as the dollar fell against the euro. By the close, gold for February delivery tacked on $14.30, or 0.9%, to land at $1,678.30 an ounce -- the commodity's highest finish since Dec. 9.

Levels to Watch in Trading:

  • Dow Jones Industrial Average (DJIA – 12,708.82) - support at 10,500; resistance at 13,000
  • S&P 500 Index (SPX – 1,316.00) - support at 1,100; resistance at 1,400
  • Nasdaq Composite (COMP – 2,784.17) - support at 2,100; resistance at 2,900

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