Pre-Fed Anxiety Contains Dow Jones Industrial Average; Oil Rebounds

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

• The biotech stock that's on the brink of "utter disaster."
• Option bears have been paying up in hopes Facebook Inc (NASDAQ:FB) takes a post-earnings dive.
• Breaking down a turbulent session for these 3 airline stocks.
• Plus ... Exxon's historic loss, durable goods disappoint, and Micron's big day.
  

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:

1. 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)

2. 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)

3. Freeport-McMoRan Inc (NYSE:FCX) announced plans to reduce its workforce by 25%.

4. Why this Sunedison (SUNE) yieldco muscled higher.

5. 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. 

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