The DJIA finished the day lower, amid surging Treasury yields and mixed economic data
The Dow Jones Industrial Average (DJIA) explored a 104-point range in choppy trading. Stocks reacted to a fresh batch of of corporate earnings and a mixed round of economic reports, which included last month's rise in pending home sales. Elsewhere, rising oil prices temporarily boosted stocks, although surging Treasury yields eventually helped to pressure markets back into negative territory.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 18,169.68) fell 29.7 points, or 0.2%. Verizon Communications Inc. (NYSE:VZ) led the 12 Dow winners, gaining 1.9%, while Boeing Co (NYSE:BA) dropped 1.5%, the most of the 18 losers.
The S&P 500 Index (SPX – 2,133.04) lost 6.4 points, or 0.3%, as the Nasdaq Composite (COMP – 5,215.97) also ended lower, dropping 34.3 points, or 0.7%.
The CBOE Volatility Index (VIX – 15.36) rose 1.1 points, or 7.9%.
5 Items on Our Radar Today
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Apple Inc. (NASDAQ:AAPL)
unveiled its new MacBook Pro at a much-anticipated event this afternoon. Amid slumping laptop sales, AAPL incorporated several new features into its MacBook revamp in an attempt to lure new customers and get current customers to upgrade their PCs, including an integrated touchscreen strip.
(Business Insider)
- United Parcel Service, Inc. (NYSE:UPS) announced it would be purchasing 14 747-8 cargo jets from Boeing to the tune of $5.3 billion as growth of air cargo shipping services takes off. (Reuters)
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- What had Celgene Corporation (NASDAQ:CELG) sizzling -- and options traders calling for more upside.
- Why this biotech is buying back $3 billion in shares.
Data courtesy of Trade-Alert
Commodities:
December-dated crude futures finished the day at $49.72 per barrel, up 54 cents, or 1.1%. Revived expectations of a potential crude output deal among the Organization of Petroleum Exporting Countries (OPEC) boosted black gold, as Gulf state OPEC members said they were willing to cut production by as much as 4%.
Gold for December delivery tacked on $2.90, or 0.2%, to end the day at $1,269.50 per ounce, as physical demand from India ahead of several festivals and a mixed bag of U.S. economic data buoyed bouillon.
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