Despite a quick trek into positive territory at the open, the Dow Jones Industrial Average (DJIA) spent nearly the entire session moving lower, succumbing to a negative earnings reaction for Dow stock IBM. Steep declines from oil major Chevron only increased pressure on the blue-chip barometer, with the Dow closing with a second consecutive triple-digit loss. While declining energy stocks sent the S&P 500 Index (SPX) to a loss, as well, the Nasdaq Composite (COMP) outperformed on solid earnings from Lam Research and Intuitive Surgical.
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The Dow Jones Industrial Average (DJIA - 20,404.49) closed the session down 118.8 points, or 0.6%, but off its session low. IBM stock led the 22 Dow decliners with its 4.9% drop, while Merck paced the eight advancers with a 0.6% gain.
The S&P 500 Index (SPX - 2,338.17) edged above 2,350 in intraday action, before closing down 4 points, or 0.2%. The Nasdaq Composite (COMP - 5,863.03) outperformed its peers, adding 13.6 points, or 0.2%.
The CBOE Volatility Index (VIX - 14.93) added 0.5 point, or 3.5%.
5 Items on Our Radar Today:
Data courtesy of Trade-Alert
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