The DJIA fell as Fed officials gave mixed messages ahead of tonight's speech from Janet Yellen
The Dow Jones Industrial Average (DJIA) spent the day in the red -- down more than 180 points at its intraday low -- but managed to pare the majority of these losses by the close. Traders continued to mull over Wednesday's press conference from President-elect Donald Trump, which lacked clarity on many policy details. Mixed messages from several Federal Reserve officials also failed to boost stocks -- with the Nasdaq Composite (COMP) snapping its seven session win streak -- ahead of tonight's speech from Fed Chair Janet Yellen. Tomorrow's trading could be a volatile one, too, with fourth-quarter earnings season set to kick off.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 19,891.00) dropped 63.3 points, or 0.3%, with Walt Disney Co (NYSE:DIS) leading 22 of the blue-chip stocks lower on a 1.7% slip. McDonald's Corporation (NYSE:MCD) paced eight gainers, tacking on 1%.
The S&P 500 Index (SPX - 2,270.44) gave up 4.9 points, or 0.2%, for the day. The Nasdaq Composite (COMP - 5,547.49) lost 16.2 points, or 0.3%, snapping a seven-day win streak, and finishing its first session in the red for 2017.
The CBOE Volatility Index (VIX - 11.54) edged up by 0.3 point, or 2.5%.
5 Items on Our Radar Today
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CVS Health Corp (NYSE:CVS) said it will begin selling a
low-cost alternative to Mylan NV's (NASDAQ:MYL) EpiPen. The generic epinephrine auto-injector, Adrenaclick, is made by Impax Laboratories Inc (NASDAQ:IPXL), and will be priced at $109.99 for a two-pack -- less than one-third the price of Mylan's generic form of the EpiPen, and under one-sixth the price of the brand-name product. (
MarketWatch)
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The U.S. Department of Justice (DOJ) announced today it will
conduct a probe into the Federal Bureau of Investigation's (FBI) reopening of its investigation of Hillary Clinton's private email use just before the Nov. 8 election. The DOJ probe will particularly focus on the motives behind the FBI's decisions and timing, including concerns that FBI Director James Comey's public statement may have influenced voters, sowing distrust for the Democratic presidential candidate. (
Reuters)
- The emissions scandal shocker that sent Fiat Chrysler Automobiles NV (NYSE:FCAU) spiraling off on an all-time peak.
- The brokerage note that had Steel Dynamics, Inc. (NASDAQ:STLD) -- and it sector peers -- sliding.
- 2 biotech stocks that could push past Trump headwinds.
Data courtesy of Trade-Alert
Commodities:
It was a second straight day of gains for crude oil, which rallied on reports that key members of the Organization of the Petroleum Exporting Countries (OPEC) have been complying with agreed-upon production cuts. Also boosting oil price today was a strong demand forecast out of China. Crude for February delivery ended the session up 76 cents, or 1.5%, at $53.01 per barrel.
As stocks sold off, gold enjoyed its "safe-haven" status, while also getting a lift from a weaker dollar. February-dated gold added $3.20, or 0.3%, to close at $1,199.80 an ounce, but fell short of settling above the $1,200 mark, after spending much of the session north of here.
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