Dow Jones Industrial Average, Nasdaq Persevere

The Stock That's 'Too Inexpensive to Ignore'

Alex Eppstein
Jun 23, 2015 at 4:20 PM
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The Dow Jones Industrial Average's (DJIA) upward momentum cooled, as traders weighed an improving situation in Greece against a stronger dollar. The Street also digested a mixed round of economic data, which included a decline in durable goods orders and stronger-than-expected new home sales. Still, the Dow managed to close a hot-and-cold session higher, while the Nasdaq Composite (COMP) again settled at its loftiest level ever.

 

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

 

The Dow Jones Industrial Average (DJIA - 18,144.07) traded in a roughly 80-point range, and closed on a 24.3-point, or 0.1%, lead. Sixteen of the Dow's 30 components ended higher, paced by UnitedHealth Group Inc.'s (NYSE:UNH) 2.1% gain. DuPont (NYSE:DD) led the 14 blue-chip losers with a 2.1% drop.

The S&P 500 Index (SPX - 2,124.20) edged up 1.4 points, or 0.1%. The Nasdaq Composite (COMP - 5,160.09), meanwhile, hit an intraday record of 5,163.41 and finished at its loftiest mark in history, adding 6.1 points, or 0.1%.

The CBOE Volatility Index (VIX - 12.11) slid 0.6 point, or 5%, to close at its lowest point since early December.

 

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5 Items on Our Radar Today:

 

  1. Durable goods orders retreated a seasonally adjusted 1.8% in May, largely due to a sharp drop in aircraft bookings, according to data from the Commerce Department. Excluding the volatile transportation sector, however, orders edged up 0.4% -- in line with estimates. (MarketWatch)
  2. Fed Governor Jerome Powell believes economic conditions could improve enough to support up to two rate hikes before the end of the year. Specifically, his forecast projects increases in September and December, though he described the latter as "more uncertain." (Bloomberg)
  3. The product release that brought AMZN bulls to the table.
  4. Why contrarian bulls should take a look at this trio of large-caps.
  5. Costco Wholesale Corporation (NASDAQ:COST) drew the ire of this Hollywood heartthrob.

 

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Commodities:

 

Crude futures rallied despite a stronger dollar, amid expectations that tomorrow's weekly inventories report will reveal a drawdown. At the close, August crude was up 63 cents, or 1%, to settle at $61.01 per barrel.

 

August-dated gold retreated on a strengthening greenback and a risk-on attitude among investors, as recent developments calmed fears of a Greek default. By day's end, the malleable metal was off $7.50, or 0.6%, at $1,176.60 per ounce -- a two-week low.


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