Dow Jones Industrial Average Slips, VIX Pops on 'Brexit' Eve

3 ETFs Mobbed By 'Brexit' Bears; Plus, The Automaker Rooting for 'Remain'

by Celeste Taylor

Published on Jun 22, 2016 at 4:26 PM
Updated on Jun 24, 2020 at 10:16 AM

The Dow Jones Industrial Average (DJIA) muscled higher out of the gate, but ultimately reversed lower as "Brexit" jitters amplified before tomorrow's vote. Fed Chair Janet Yellen continued her congressional testimony, waxing optimistic about future U.S. job creation, and calling the most recent slump "transitory." However, neither Yellen nor a jump in existing home sales could save stocks, with the CBOE Volatility Index (VIX) -- or the "fear gauge" -- marking its highest close since February. 

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

The Dow Jones Industrial Average (DJIA - 17,780.83) lost 48.9 points, or 0.3%, breaking a two-day win streak. McDonald's Corporation (NYSE:MCD) paced the 24 decliners with a 1.6% drop. Merck & Co., Inc. (NYSE:MRK) led the six Dow winners, with a gain of 1.4%.

The S&P 500 Index (SPX - 2,085.45) lost 3.5 points, or 0.2%, while the Nasdaq Composite (COMP - 4,833.32) also lost 0.2%, or 10.4 points.

The CBOE Volatility Index (VIX - 21.17) added 2.7 points, or 14.6%, to finish at its highest point since February.

Indexes closing summary June 22

NYSE and NASDAQ stats June 22

5 Items on Our Radar Today: 

  1. The "Brexit" vote has investors biting their nails, as the "leave" camp edges ahead in the latest polls. (Marketwatch)
  2. Medicare funds could be drying up even sooner than expected, according to the latest reports. (Washington Post)
  3. Analysts say its time to "buy" these 3 biotechs.
  4. Biogen Inc (NASDAQ:BIIB) just hit a two-year low, but could some bullish analyst attention have it heading for a rebound?
  5. QEP Resources Inc (NYSE:QEP) fell after making a $600 million purchase, while one industry peer continued its June rally.

Quarterly Earnings June 22

Unusual Options Activity June 22

Data courtesy of
Trade-Alert

Commodities:

August-dated oil dropped 72 cents, or 1.4%, to end the day at $49.13 per barrel. Oil prices responded to last-minute "Brexit" jitters, as well as a smaller-than-expected drawdown in domestic supplies, according to the weekly crude inventories report.

August-dated gold lost 0.2%, or $2.50, to $1,270.00 per ounce, a two-week low for the precious metal, as investors headed for the sidelines ahead of tomorrow's "Brexit" vote.

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