"We came in with Europe down across the board after some disappointing economic data from various countries ... but in the end, you have to be impressed with the U.S. market's resiliency here," said Schaeffer's Senior Technical Strategist Ryan Detrick, CMT, of today's trading, which saw the Dow Jones Industrial Average (DJI) grind out a minor loss, dropping just 9 points.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI) tread water for most of the day, slipping in and out of winning territory before finally finishing at 13,973.39, down nearly 10 points, or 0.1%. Alcoa Inc. (NYSE:AA) led the 14 advancers on the 30-member Dow, jumping 2.1%. The 21 decliners were led by Coca-Cola (NYSE:KO), which fell 1% and continues to drop after this week's disappointing earnings report.
The S&P 500 Index (SPX) gained slightly on the day, picking up more than 1 point, or nearly 0.1%, to close at 1,521.38. The Nasdaq Composite (COMP) also won on the day, finishing at 3,198.66, up nearly 2 points, or 0.1%.
The CBOE Volatility Index (VIX) finished at 12.66, down 0.3 point, or 2.5%.
A Trader's Take:
"The market has had all the reasons in the world to sell off the past few weeks, yet it hasn't -- you have to like seeing that action," Detrick said. "It was another day of more new highs from small and mid-caps ... One other big-time positive is the recent big upward trend in mergers and acquisitions."
3 Things to Know About Today's Market:
5 Stocks We Were Watching 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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