It was a photo finish in the market today, as investors watched
whether or not the
Dow Jones Industrial Average (DJI)
and S&P 500 Index (SPX) would be able to pull out weekly wins.
Both indexes experienced choppy trading and spent time north and
south of breakeven, with earnings reports and potential progress in
the Russia/Ukraine conflict sharing the spotlight. As market bears
try to prevent the major indexes from revisiting historical highs,
their bullish counterparts have been able to keep most sell-offs in
check. The net result was a modest weekly gain (and a new closing
high) for the Dow, and a slight weekly loss for the S&P.
Trading Topic of the Week
Continue reading for more on today's market, including
-- Ways to Win with Aggressive Trades:
Remember the F.A.R. principle
. To boost your odds of scoring a big winner, look for stocks
poised to make a Fast, Aggressive move in the Right direction.
Dow Jones Industrial Average (DJI - 16,583.34)
traded lower for much of the morning, but gained positive momentum
into the close, settling on a gain of 32.4 points, or 0.2%, which
was enough to secure a new all-time closing high. The blue-chip
index also eked out a weekly gain of 0.4%. McDonald's Corporation (
) paced the Dow's 18 advancing stocks, rising 1% today, and
JPMorgan Chase & Co. (JPM) logged a 0.6% drop to bring up the
rear. Cisco Systems, Inc. (CSCO) was unchanged.
S&P 500 Index (SPX - 1,878.48)
had a similar daily trajectory to the Dow, rallying into the close
after a lackluster morning. The index finished 2.9 points, or 0.2%,
higher, but ended the week with a 0.1% loss. The
Nasdaq Composite (COMP - 4,071.87)
closed in the black for the first time since Monday, adding 20.4
points, or 0.5%. On a weekly basis, however, the tech-rich index
gave back nearly 1.3%.
CBOE Volatility Index (VIX - 12.92)
started the morning above the flat line, but trended steadily lower
throughout the day, closing off 0.5 point, or 3.8%. The market's
"fear gauge" ended just shy of its intraday low -- and south of the
13 level -- but edged up 0.1% on the week.
5 Items on Our Radar Today
- Apple Inc. (
) is reportedly in talks to
purchase Beats Electronics
for $3.2 billion. The headphone maker -- which debuted its own
streaming music service in January -- was launched in 2008 by
hip-hop star Dr. Dre. If the deal ends up going through, it will
be the largest acquisition on record for the iTunes parent.
(Los Angeles Times)
- Speaking before a live group in New Orleans, Federal Reserve
Bank of Dallas President Richard Fisher -- currently a voting
member of the Federal Open Market Committee -- noted that he
agrees with ceasing all quantitative easing
this year. Fisher also projected that interest rates may stay
near historical lows for some time, assuming inflation holds
- The Labor Department's Job Openings and Labor Turnover Survey
4 million job openings
in March, a slight decline from 4.1 million in February. There
are currently about 2.5 job seekers for each open position, down
from the 2009 peak of seven unemployed Americans for every
Twitter Inc (TWTR)
scored another vote of confidence on Wall Street and
attracted a number of option bulls
Citigroup Inc (C)
bulls are betting on a near-term breakout through the $50
For a look at today's options movers and commodities
activity, head to page 2.
Oil futures edged lower on Friday -- moving back below the $100
level -- as the dollar gained strength. At the close, the
June-dated contract had slipped 27 cents, or 0.3%, to settle at
$99.99 per barrel. Week-over-week, however, black gold added 23
cents, or about 0.2%. Elsewhere, June natural gas futures dipped to
another three-week low, and shed 3.1% for the week.
Gold lost ground for the fourth session in a row, slipping 10
cents to settle at $1,287.60 an ounce. This week, the malleable
metal fell nearly 1.2%.