The DJIA notched a new year-to-date closing high, while the COMP lagged
Following two days of big moves, the
Dow Jones Industrial Average (DJIA) traded in a relatively tight range today, as stocks reacted to
the latest batch of economic data, a fresh outlook from one Fed member, and slipping oil prices. After exploring both sides of breakeven throughout the trading day, a rally from financial stocks in the wake of
the most recent bank earnings helped boost the Dow and S&P 500 Index (SPX) to fresh year-to-date closing highs. The Nasdaq Composite (COMP) didn't fare quite as well, however, snapping its two-day winning streak.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 17,926.43) ended 18.2 points, or 0.1%, higher, as JPMorgan Chase & Co. (NYSE:JPM) led the 18 Dow gainers with a 1.3% win. Intel Corporation (NASDAQ:INTC) paced the 12 laggards, dropping 1%.
The S&P 500 Index (SPX - 2,082.78) added a mere 0.4 point, or 0.02%, while the Nasdaq Composite (COMP - 4,945.89) broke the trend, giving up 1.3 points, or 0.1%.
The CBOE Volatility Index (VIX - 13.72) slid 0.1 point, or 0.9%.
5 Items on Our Radar Today:
- Microsoft Corporation (NASDAQ:MSFT) is suing the U.S. Department of Justice (DOJ) over customer privacy. Specifically, the lawsuit is seeking the right to tell MSFT customers when their emails and/or data has been turned over to the government. (Bloomberg)
- Atlanta Fed President Dennis Lockhart said this morning that he has re-evaluated his timeline for when the central bank should raise interest rates. In March, Lockhart noted that an April rate hike should be considered, but today he said that he will not "be advocating a move" this month, based on slow inflation and weak consumer data. (MarketWatch)
- GoPro Inc (NASDAQ:GPRO) said it lured the newest member of its rank away from Apple Inc. (NASDAQ:AAPL), but the stock failed to capitalize on the news.
- The brokerage firm sending agriculture stocks spiraling.
- Chiasma Inc (NASDAQ:CHMA) took a dive on Food and Drug Administration (FDA) speculation.
Data courtesy of Trade-Alert
Commodities:
Crude oil fell for a second straight session, as skepticism set in ahead of this weekend's meeting of global oil producers in Doha, Qatar. May-dated crude settled down 26 cents, or 0.6%, at $41.50 per barrel.
A strengthening dollar sent gold tumbling today. At the close, gold futures for June delivery were off $21.80, or 1.7%, to $1,226.50 an ounce -- marking their worst session since March 23.
Stay on top of overnight news & big morning movers. Sign up now for Schaeffer's Opening View