The DJIA closed higher once again, while the SPX nearly set a record
The Dow Jones Industrial Average (DJIA) flirted with triple-digit gains early on, and ended comfortably higher once again. Helping stocks were overseas stimulus hopes, solid factory orders for March, and M&A buzz throughout the day. Additionally, the S&P 500 Index (SPX) came within a hair of taking out its record mark.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 18,070.40) traded above breakeven the entire session to close with a gain of 46.3 points, or 0.3%. Of the index's 30 components, 21 finished higher, led by JPMorgan Chase & Co.'s (NYSE:JPM) 1.8% gain. The biggest loser was McDonald's Corporation (NYSE:MCD), with a 1.7% drop.
The S&P 500 Index (SPX - 2,114.49) came within 5 points of its record high, finishing 6.2 points, or 0.3%, higher. The Nasdaq Composite (COMP - 5,016.93) advanced 11.5 points, or 0.2%.
The CBOE Volatility Index (VIX - price) added 0.2 point, or 1.2%, as upside momentum was stifled by its 20-day moving average.
5 Items on Our Radar Today:
- The daughter of Britain's Prince William and Duchess Kate Middleton has been named Charlotte Elizabeth Diana. The princess is named after her late grandmother, Princess Diana, and great-grandmother, Queen Elizabeth. (CNN)
- Chicago Fed President Charles Evans opined that he "likely will not feel confident enough to begin to raise rates until early next year." Nevertheless, he told an audience in Columbus, Ind, "The underlying fundamentals still look good." (MarketWatch)
- Short-term speculators targeted Facebook Inc (NASDAQ:FB) after it launched its new initiative.
- It's unclear why this energy stock got whacked today -- but option traders expect more downside.
- Fans of the CBOE Volatility Index (VIX) will soon have a new toy.
Commodities:
Crude oil moved lower due to a slowdown in manufacturing data out of China. By the close, crude dated for June delivery was off 22 cents, or 0.4%, at $58.93 per barrel.
Gold futures, on the other hand, rebounded from a six-week low. June-dated gold closed $12.30, or 1.1%, higher at $1,186.80 per ounce.