Dow Jones Industrial Average (DJI)
edged into positive territory for a short time this afternoon, but
lost that momentum by the closing bell. "Wall Street seemed to be
at a standoff after Friday's disappointing jobs numbers," said
Senior Equity Analyst Joe Bell. "Global markets were shaken after
uncertainties arose as to whether newly elected governments in
France and Greece will uphold their previously agreed-to austerity
measures. And U.S. markets were relatively flat, with many major
indexes right above key technical support areas."
Keep reading to see what else was on our radar today:
And now, a look at the numbers...
- Deja vu:
Wall Street gripped by the euro zone
- Traders are also watching
key technical levels in the IWM and SPY
- Plus, Bernie Schaeffer explained
why the VIX is on a hair trigger
Notching its fourth down day in a row, the
Dow Jones Industrial Average (DJI - 13,008.53)
lost 29.74 points, or 0.23%. At its session low, the Dow was off
more than 68 points. Twelve out of the 30 blue chips ended with
wins, as Bank of America (
) and Walt Disney (
) led the outperformers with gains of 2.8% and 2.1%, respectively.
) paced the losing majority with a 1.7% drop, while American
) stayed unmoved.
S&P 500 Index (SPX - 1,369.58)
took the long way to get to breakeven today, but closed a third
consecutive session below 1,400. By the time the dust settled, the
SPX was able to inch up 0.5 point, or 0.04%. Meanwhile, the
Nasdaq Composite (COMP - 2,957.76)
eked out a 1.4-point, or 0.05%, increase.
CBOE Market Volatility Index (VIX - 18.94)
pulled back 1.2% by the closing bell, ending just atop its intraday
low of 18.41.
iShares Russell 2000 Index Fund (
and SPDR S&P 500 ETF Trust (SPY) were both able to hold their
previous April lows," noted Bell. "Technically speaking, the bulls
would like to see these crucial levels hold."
Turning to today's major market stories...
For today's activity in commodities, options, and more, head
to page 2.
Oil futures settled lower for a fourth consecutive session
today, following weekend elections in France and Greece -- which
raised concerns that euro-zone austerity measures could be foiled.
As the commodity continued to be plagued by demand concerns,
June-dated crude gave up 55 cents, or 0.6%, to settle at $97.94 a
barrel -- its lowest closing price in three months.
Similarly, gold futures took a dip today, pressured lower by the
euro-zone elections. As the dollar tracked higher against the
faltering euro, gold for June delivery fell $6.10, or 0.4%, to land
at $1,639.10 an ounce.
Levels to Watch in Trading
- Dow Jones Industrial Average (DJI - 13,008.53) - support at
11,500; resistance at 14,000
- S&P 500 Index (SPX - 1,369.58) - support at 1,100;
resistance at 1,500
- Nasdaq Composite (COMP - 2,957.76) - support at 2,400;
resistance at 3,400
For today's notable annual highs and lows,
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