The
Dow Jones Industrial Average (DJI)
was up nearly 60 points at its session high of 13,095.91, and kept
its head above breakeven by the time the dust settled. "There
wasn't a whole lot going on today, as most participants are looking
forward to the results of the European Central Bank (ECB) meeting
tomorrow," said Schaeffer's Senior Equities Analyst Joe Bell.
"Others will be paying close attention to the jobs numbers that are
to come this Friday."
Click through to see what else was on our radar today:
And now, a look at the numbers...
After tagging its intraday peak of 13,095.91, the
Dow Jones Industrial Average (DJI - 13,047.48)
slowly ate away at this gain and ended trading with a 11.5-point,
or 0.1%, rise. Eleven of the 30 components closed with losses, as
American Express Company's (
AXP
) 2.4% drop paced the laggards. Meanwhile,
The Walt Disney Company (
DIS
)
jumped to an all-time high, and led the 18 winning blue chips with
a 2.3% rise. Microsoft Corporation (
MSFT
) remained unchanged.
Unlike the Dow, the
S&P 500 Index (SPX - 1,403.44)
and
Nasdaq Composite (COMP - 3,069.27)
couldn't maintain a perch in positive territory. For the day, the
SPX slivered off 1.5 points, or 0.1%, while the COMP backpedaled
5.8 points, or 0.2%.
The 18 level continues to act as resistance for the
CBOE Market Volatility Index (VIX - 17.74)
, which slipped 0.2 points, or 1.3%, to land just below its session
high of 17.84.
Today's highlight
: "Small caps continued their leadership role, which I view as a
positive for the market," remarked Bell. "The market continues to
be stuck in a slow grind sideways, with many participants expecting
a break from this during the next couple weeks."
Turning to today's major market stories...
For today's activity in commodities, options, and more, head
to page 2.
Crude futures turned higher today, even though tomorrow's
European Central Bank (ECB) summit and holiday-delayed oil
inventory data weighed on investor sentiment. But the commodity
maintained early support, following a revised report that showed
second-quarter productivity in the U.S. to be stronger than first
calculated. Crude for October delivery advanced 6 cents, or 0.1%,
to close at $95.36 a barrel.
The highly anticipated ECB meeting and Friday's job report
prompted gold futures traders to stay on the sidelines, which
pushed the malleable metal to a loss on the day. By the close,
December-dated gold inched $2, or 0.1%, lower to settle at $1,694
an ounce.
Levels to watch in trading...
-
Dow Jones Industrial Average (DJI - 13,047.48)
- support at 11,500; resistance at 14,000
-
S&P 500 Index (SPX - 1,403.44)
- support at 1,100; resistance at 1,500
-
Nasdaq Composite (COMP - 3,069.27)
- support at 2,400; resistance at 3,400
At the end of every market day, the staff at Schaeffer's
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