The Dow Jones Industrial Average (DJIA) extended its daily win streak to six, eking out a fresh record closing high after a positive earnings reaction for Cisco Systems, Inc. (NASDAQ:CSCO). The same can't be said for the S&P 500 Index (SPX) and Nasdaq Composite (COMP), which snapped their longest win streaks since 2013 and 1999, respectively, but not before notching new intraday highs of their own. Though energy and bank stocks weighed on the broader equities market, traders also digested this morning's round of mostly upbeat economic data and hawkish comments from Fed Vice Chair Stanley Fischer. Meanwhile, during a press conference, President Donald Trump said a replacement for the Affordable Care Act (ACA) would be unveiled in March -- and take priority over his highly anticipated tax plan.
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The Dow Jones Industrial Average (DJIA - 20,619.77) touched a new all-time intraday high of 20,639.87, and ended 7.9 points, or 0.04%, higher. Of the 30 Dow stocks, 15 ended higher, with CSCO's 2.4% gain leading the way. The 15 losers were paced by Chevron Corporation (NYSE:CVX), which fell 1.7%.
The S&P 500 Index (SPX - 2,347.22) dropped 2 points, or 0.1%, after notching a new intraday high of 2,351.31. Meanwhile, the Nasdaq Composite (COMP – 5,814.90) dropped 4.5 points, or 0.1%, after hitting an all-time intraday peak of 5,835.15.
After being up 7.4% in intraday action, the CBOE Volatility Index (VIX - 11.76) settled down 0.2 point, or 1.8%.
5 Items on Our Radar Today
Data courtesy of Trade-Alert
March-dated crude futures added 25 cents, or 0.5%, to settle at $53.36 per barrel, amid optimism that global oil producers will extend their output agreement past June.
April-dated gold futures tacked on $8.50, or 0.7%, to close at $1,241.60 an ounce -- a three-month high. The precious metal was boosted by a declining U.S. dollar and potential political risk in the U.S. and Europe.
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