The DJIA couldn't break into positive territory, as Brexit fears offset energy tailwinds
The Dow Jones Industrial Average (DJIA) spent the entire day modestly lower amid Brexit headwinds, failing to benefit from a rally in crude oil prices. However, the S&P 500 Index (SPX) finished higher, while the Nasdaq Composite (COMP) extended its winning streak to four sessions. Stocks also reacted to a raft of central bank speakers, including San Francisco Fed President John Williams, who said his colleagues should not "rule out more than three increases total for this year," as we're as close "as we've ever been" to hitting inflation and employment goals.
Continue reading for more on today's market, including:
- 25 stocks to dump before the second quarter, if history is any indicator.
- The pair of drug stocks hitting new highs.
- 3 red-hot game stocks for bargain-hunting options traders.
- Plus, Sears keeps sizzling; 2 steel names to watch; and Amazon's record high.
The Dow Jones Industrial Average (DJIA - 20,659.32) slumped 42.2 points, or 0.2%. Just 12 of the Dow's 30 stocks advanced, with Chevron leading the way, up 0.8%. UnitedHealth shares were the worst of the 18 laggards, giving back 1.2%.
The S&P 500 Index (SPX - 2,361.13) ticked 2.6 points, or 0.1%, higher. The Nasdaq Composite (COMP - 5,897.55) added 22.4 points, or 0.4%.
The CBOE Volatility Index (VIX - 11.42) lost 0.1 point, or 1%, for its lowest close since March 20.
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Mylan's generic version of GlaxoSmithKline's
Advair asthma treatment was rejected by the U.S. Food and Drug Administration (FDA).
(Reuters)
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After formally informing European Union (EU) Council President Donald Tusk that the U.K. will be leaving the bloc, Prime Minister
Theresa May said "there can be no turning back" from the decision. Tusk responded that it was not a "happy day" for him, adding, "We already miss you."
(BBC)
- Option bulls have been circling sizzling Sears stock.
- 2 steel names approaching critical levels.
- Options trading exploded as Amazon stock reached a record high.
Data courtesy of Trade-Alert
Commodities
Oil prices gained more ground today, amid supply disruptions in Libya and after U.S. crude inventories rose less than expected last week. May-dated crude futures added $1.14, or 2.4%, to settle at $49.51 per barrel.
Gold ended lower, as the dollar strengthened against the euro. Specifically, gold for April delivery gave back $1.90, or 0.2%, to close at $1,253.70 per ounce.
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