Apple Helps Dow Jones Industrial Average Swing Higher; Fed in Focus

50 Stocks to Watch This Historically Bullish Week

Mar 15, 2016 at 4:24 PM
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The Dow Jones Industrial Average (DJIA) spent most of the session below breakeven, as traders played it safe ahead of tomorrow's highly anticipated Fed policy statement. However, the blue-chip index once again managed to swing higher by the close, as an especially good day for Apple Inc. (NASDAQ:AAPL) offset big losses in healthcare stocks and a continued slide in oil prices, though the S&P 500 Index (SPX) and Nasdaq Composite (COMP) weren't so lucky.   


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The Dow Jones Industrial Average (DJIA - 17,251.53) was down more than 100 points at its session low, but ultimately added 22.4 points, or 0.1%, to settle at a year-to-date high. AAPL led 19 of the blue-chip components higher with its 2% daily gain. Pfizer Inc. (NYSE:PFE) was the leading laggard for a second day, shedding 1.9%.

The S&P 500 Index (SPX - 2,015.93) slid 3.7 points, or 0.2%, while the Nasdaq Composite (COMP - 4,728.67) posted the steepest loss, at 21.6 points, or 0.5%.

The CBOE Volatility Index (VIX - 16.84) dropped just 0.1 point, or 0.5%.

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5 Items on Our Radar Today:

  1. For the second consecutive month, U.S. retail sales have fallen. February sales dropped a seasonally adjusted 0.1%, while January's sales were downwardly revised to a loss of 0.4%. Cheap gasoline and a 0.2% drop in auto sales were cited as major factors in these results. (MarketWatch)

  2. Aluminum interest Alcoa Inc (NYSE:AA) announced that its spun-off company will be called Arconic, and will focus on multi-alloy goods, such as cars and aerospace products. Alcoa unveiled its spin-off plans last September, with hopes of building market value as raw aluminum prices lag. (MarketWatch)

  3. Why these 2 biotech stocks made big moves in opposite directions.

  4. The trendline GoPro Inc (NASDAQ:GPRO) bulls are watching.

  5. Behind Valeant Pharmaceutical Intl Inc's (NYSE:VRX) fall from grace.


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Data courtesy of Trade-Alert

Commodities:

Oversupply concerns continue to weigh on crude oil after Monday's report from the Organization of the Petroleum Exporting Countries (OPEC), and traders exercised caution ahead of tomorrow's Fed statement and the regularly scheduled crude inventories report. April-dated oil shed 84 cents, or 2.3%, to close at $36.34 a barrel.

Gold also slid ahead of tomorrow's FOMC statement, as investors wait for the latest clues on possible rate hikes throughout this year. April futures for gold fell to their lowest close this month, down $14.10, or 1.1%, to $1,231.00 an ounce.

 

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