The DJIA and SPX stayed hot ahead of President Trump's highly anticipated speech
The Dow Jones Industrial Average (DJIA) ended on a 12th consecutive closing high -- matching its longest streak ever, set in 1987 -- while the S&P 500 Index (SPX) nabbed its own all-time peak. On a percentage basis, though, stocks gained only modestly, as uncertainty prevailed ahead of tomorrow's gross domestic product (GDP) data, as well as President Donald Trump's speech before Congress. Also in view today were comments from Dallas Fed President Robert Kaplan, who urged the central bank to hike interest rates "sooner rather than later."
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The Dow Jones Industrial Average (DJIA - 20,837.44) added 15.7 points, or 0.1%, and touched a record high of 20,851.33. However, just 11 of 30 Dow stocks advanced, led by Caterpillar Inc.'s (NYSE:CAT) 2.1% gain. Of the 19 blue-chip losers, Verizon Communications Inc. (NYSE:VZ) was worst off, down 1.3%.
The S&P 500 Index (SPX - 2,369.73) rose 2.4 points, or 0.1% -- and tagged a record peak of 2,371.54. Meanwhile, the Nasdaq Composite (COMP - 5,861.90) bested its peers, tacking on 16.6 points, or 0.3%.
The CBOE Volatility Index (VIX - 12.09) jumped 0.6 point, or 5.4% for its first close above the 12 level since mid-January.
5 Items on Our Radar Today
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Amit Singhal, senior vice president of engineering for Uber, has resigned from his position with the ride-hailing service, less than two months after assuming it. Uber CEO Travis Kalanick asked Singhal to step down after
sexual harassment allegations from his time with Alphabet Inc (NASDAQ:GOOGL) came to light.
(Recode)
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Wendy's Co (NASDAQ:WEN) announced plans to introduce
self-ordering kiosks at roughly 1,000 locations by the end of 2017. The fast-food giant has been testing the technology at several locations in Ohio, and the company's chief information officer expects a positive return on investment within two years.
(New York Post)
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- Why this drug stock soared 76%.
Data courtesy of Trade-Alert
Commodities
Oil prices edged slightly higher, as traders weighed output cuts overseas -- due to compliance with the Organization of the Petroleum Exporting Countries (OPEC) agreement -- against the prospect of additional U.S. production. By day's end, April-dated crude futures were up just 6 cents, or 0.1%, to settle at $54.05 per barrel.
Gold rebounded from Kaplan's hawkish rate-hike comments to end with its third consecutive gain -- and at a more than three-month high -- as uncertainty ahead of President Trump's speech brought investors to so-called "safe havens." By day's end, April-dated gold had added 50 cents to close at $1,258.80 per ounce.
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