The DJIA struggled to pick a direction, as traders took a wait-and-see approach ahead of the Fed's policy decision
The
Dow Jones Industrial Average (DJIA) popped at the open, but eventually lost steam to finish only slightly higher. Overall, the Dow explored a roughly 110-point range, as traders braced for tomorrow afternoon's
Federal Open Market Committee (FOMC) policy decision, and stocks reacted to a round of
high-profile earnings reports and
lackluster economic data. Meanwhile, a rebound in crude oil prices sent energy stocks higher, after a
brutal start to the week.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 17,990.32) ended on a gain of 13.1 points, or nearly 0.1%. Seventeen of the Dow's 30 components landed in the black, led by an earnings-inspired 2.4% jump at DuPont (NYSE:DD). Meanwhile, a poorly received quarterly report sunk Procter & Gamble Co (NYSE:PG), which was the worst off of the Dow's 13 losers, sinking 2.3%.
The S&P 500 Index (SPX - 2,091.70) edged up 3.9 points, or 0.2%. On the other hand, the Nasdaq Composite (COMP - 4,888.31) gave back 7.5 points, or 0.2%.
The CBOE Volatility Index (VIX - 13.96) gave up its short-lived perch atop 14, slipping 0.1 point, or 0.9%.


5 Items on Our Radar Today:
-
Exxon Mobil Corporation (NYSE:XOM) lost its AAA credit rating that it's held for 67 years, leaving only two companies with the coveted "perfect" rating from Standard & Poor's. The ratings agency cited expectations for a continued stretch of low oil prices and said XOM's "debt level has more than doubled in recent years." (CNBC)
-
Durable goods orders grew 0.8% in March, according to government data, falling short of the expected 2% increase. Car sales were the weakest in 13 months, while the closely watched core orders were flat. (MarketWatch)
-
Freeport-McMoRan Inc (NYSE:FCX) announced plans to reduce its workforce by 25%.
-
Why this Sunedison (SUNE) yieldco muscled higher.
- Micron Technology, Inc. (NASDAQ:MU) was today's biggest percentage gainer on the SPX, but the stock is still struggling to break familiar resistance.


Data courtesy of Trade-Alert
Commodities:
Crude futures rebounded from a rough Monday, buoyed by a weaker dollar and expectations that inventories of oil distillates and gasoline fell week-over-week. At the close, June-dated crude was up $1.40, or 3.3%, at $44.04 per barrel.
A downbeat reading on durable goods orders weighed on the dollar, sending gold higher. Gold for June delivery tacked on $3.20, or 0.3%, to rest at $1,243.40 per ounce.
Stay on top of overnight news & big morning movers. Sign up now for Schaeffer's Opening View