Dow Jones Industrial Average Fizzles in Fourth Straight Loss

Is This Surging Stock Headed for a Split?

by Josh Selway

Published on Jun 9, 2015 at 4:25 PM

The Dow Jones Industrial Average (DJIA) explored a range of more than 100 points -- on both sides of breakeven -- but ultimately resolved to the downside to extend its recent losing streak. The day was highlighted by record-high numbers from the Job Openings and Labor Turnover Survey (JOLTS) for April. While this is a good sign for the U.S. economy, it once again raised rate-hike timing fears. Also absorbing trader attention were rising bond yields and Greece debt talks, as well as crude oil, which surged ahead of the inventories report tomorrow

 

Continue reading for more on today's market, including:

 

 

The Dow Jones Industrial Average (DJIA - 17,764.04) looked ready for its first win in four sessions, but fell flat late in the day, dropping 2.5 points, or 0.01%.  Of the Dow's 30 components, 14 finished higher, with Procter & Gamble Co's (NYSE:PG) 1.5% gain leading the way. The biggest loser was Walt Disney Co (NYSE:DIS) with a 0.7% loss, while Chevron Corporation (NYSE:CVX) was even for the day. 

 

The S&P 500 Index (SPX - 2,080.15) managed to pull out a win and snap its losing streak, adding 0.9 point, or 0.04%. The Nasdaq Composite (COMP - 5,013.87) shared the DJIA's fate, falling 7.8 points, or 0.2%. 

 

The CBOE Volatility Index (VIX - 14.47) moved lower, giving back 0.8 point, or 5.4%, to fall back below 15. 

 

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5 Items on Our Radar Today:

 

  1. According to the Labor Department, the number of job openings in the U.S. hit a 14-year high in April. There were 5.4 million job postings, compared to 5.1 million the month before -- a sign of an improving labor market. (​USA Today​)
  2. The White House's press room was evacuated during a briefing this afternoon. Dogs were seen searching the room after reports of a telephoned bomb threat. (CNBC
  3. It was another bad day for airline stocks, though bulls kept betting on this one to bounce. 
  4. United Natural Foods, Inc. (NASDAQ:UNFI) went lower after its earnings miss
  5. Here's how you can ride the next (or current?) volatility pop, courtesy of Schaeffer's contributor Adam Warner.

 

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Commodities:

 

Crude oil rallied today ahead of tomorrow's inventory data and after the Energy Information Administration predicted a decline in output through early 2016 . July-dated oil added $2, or 3.4%, to finish at $60.14 per barrel. 

 

Gold, too, saw gains. Gold for August delivery closed $4, or 0.3% higher, at $1,177.60 per ounce. 

 

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