The DJIA grabbed another win as oil prices rose sharply, but the SPX and COMP ended in the red
The Dow Jones Industrial Average (DJIA) notched a fresh record high, but stocks' momentum was limited ahead of the Federal Open Market Committee (FOMC) meeting, which kicks off tomorrow. This weekend's agreement to curb output among the Organization of Petroleum Exporting Countries (OPEC) and other top oil producers helped energy stocks outperform, with big gains from Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) helping the Dow grab a sixth straight win. On the other hand, tech stocks especially struggled, sinking the Nasdaq Composite (COMP), while the S&P 500 Index (SPX) underperformed despite another all-time high, snapping its historic win streak.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 19,796.43) closed with a 39.6-point, or 0.2%, win, after notching a record high of 19,824.59. Nineteen of 30 Dow stocks ended higher, led by Johnson & Johnson's (NYSE:JNJ) 2.8% advance. Goldman Sachs Group Inc (NYSE:GS) was the biggest loser, dropping 1.9%.
The S&P 500 Index (SPX - 2,256.96) fell 2.6 points, or 0.1%, but not before touching an all-time best of 2,264.03. Meanwhile, the Nasdaq Composite (COMP - 5,412.54) lost 32 points, or 0.6%. Both indexes snapped six-session win streaks.
The CBOE Volatility Index (VIX - 12.64) rose 0.9 point, or 7.6%.


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Data courtesy of Trade-Alert
Commodities:
The agreement of top oil producers to cut output helped oil futures extend their win streak to three days. January-dated crude oil futures gained $1.33, or 2.6%, to end at $52.83 per barrel -- the best close since July 2015. .
Gold futures also managed to gain thanks to a weakening dollar. Gold set for February delivery picked up $3.90, or 0.3%, to close at $1,165.80 per ounce.
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