See-Saw Session Ends Higher For Dow Jones Industrial Average

40 Stocks Flashing Extreme Volatility Signals

Alex Eppstein
Mar 28, 2016 at 4:28 PM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA) ended an up-and-down session modestly higher -- as the index tried to recover from its first weekly loss in six -- while the Dow Jones Transportation Average (DJT) logged its fifth straight daily decline for the first time since last August. Trading was light overall, as investors took a wait-and-see approach toward stocks ahead of Tuesday's lineup of central bank speeches, including one from Fed Chair Janet Yellen. Also in focus was a mixed round of economic data, as well as a police shooting on Capitol Hill -- which ended with the alleged gunman in custody.

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

The Dow Jones Industrial Average (DJIA - 17,535.39) traded in a relatively narrow 91-point range, ending 19.7 points, or 0.1%, higher. Fourteen of the Dow's 30 components settled in the black, led by a 1.2% gain at General Electric Company (NYSE:GE). Of the 16 blue-chip laggards, Microsoft Corporation (NASDAQ:MSFT) was the worst off, down 1.2%.

The S&P 500 Index (SPX - 2,037.05) closed on a razor-thin 1.1-point, or 0.05%, lead. Meanwhile, the Nasdaq Composite (COMP - 4,766.79) surrendered 6.7 points, or 0.1%. 

The CBOE Volatility Index (VIX - 15.24) gained 0.5 point, or 3.4%, for its first settlement north of 15 since March 15. 

160328Recap1

160328Recap2

5 Items on Our Radar Today:

  1. Virgin America Inc (NASDAQ:VA) shares took off, after the airline reportedly received takeover bids from JetBlue Airways Corporation (NASDAQ:JBLU) and Alaska Air Group, Inc. (NYSE:ALK). Buyout buzz has been swirling around VA since last week, and a deal could be announced as early as next week. (Bloomberg)

  2. The Oculus Rift -- a much-hyped virtual-reality headset -- has started reaching consumers who preordered it in January. The news was a boon to Facebook Inc (NASDAQ:FB), which bought Oculus roughly two years ago. (BBC)

  3. Another predatory pricing scandal for Valeant Pharmaceuticals Intl Inc (NYSE:VRX).

  4. Pandora Media Inc (NYSE:P) calls flew off the shelves amid a front-office shake-up.

  5. ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) and Alder Biopharmaceuticals Inc (NASDAQ:ALDR) broke out big on drug news.


160328Recap3


160328Recap4
Data courtesy of Trade-Alert

Commodities:

Oil prices took a fourth straight daily step back, amid data showing financial institutions have been slow to place bullish bets on liquid gold -- despite a fall in short positions. By day's end, May-dated crude futures were off 7 cents, or 0.2%, at $39.39 per barrel.

Gold settled lower, as traders took a risk-off approach ahead of tomorrow's speech by Fed Chair Janet Yellen. At the close, gold for June delivery was down $1.50, or 0.1%, at $1,220 per ounce.


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earnings guide for Q3 before it's too late!


  
 

Partnercenter