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

50 Stocks to Watch This Historically Bullish Week

by Kirra Fedyszyn

Published on Mar 15, 2016 at 4:24 PM

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.   


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

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%.

160315recap1


160315recap2

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.


160315recap3

160315recap4
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.


A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
Google Postpones Android Reveal, "Now is Not the Time to Celebrate"
"Now is not the time to celebrate," Google said in a message on its website
ZNGA Zooms to 8-Year High on Billion-Dollar Deal
ZNGA is planning to buy Peak for $1.8 billion
Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....