Dow Jones Industrial Average Hangs On Amid Oil Rally; S&P, Nasdaq Fall

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:

• Will quadruple witching week put a damper on Chipotle Mexican Grill, Inc.'s (NYSE:CMG) CEO-inspired pop? 
• How options traders are playing 2 of the biggest post-election winners. 
• 2 defense stocks drilled by comments from Donald Trump.
• Plus... The tech stock falling out of favor, 3 fast-moving drug stocks, and is it time to strike on this offshore driller?
  

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%. 

5 Items on Our Radar Today

1. Senate Republican leader Mitch McConnell has come out in support of an investigation into the role cyber attacks out of Russia could have played in this year's presidential election. While some of his colleagues have asked for a special committee to investigate the matter, McConnell expressed faith in the government's intelligence teams. (Reuters)
2. Apple Inc. (NASDAQ:AAPL) reportedly held talks with SoftBank to invest in the company's tech fund. Separately, the blue chip's new TV application is now available to all users.  (CNBC and TechCrunch)
3. Analyst: "Market and customer demands are not in favor" of this tech stock. 
4. 3 biotech stocks that made huge moves. 
5. Is it time to buy Transocean LTD (NYSE:RIG) call options? 

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.