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

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

Jun 22, 2016 at 4:26 PM
facebook X logo linkedin

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


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.

Stay on top of overnight news & big morning movers. Sign up now for Schaeffer's Opening View


How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.