Once again, the
Dow Jones Industrial Average (DJI)
endured a wishy-washy session, only to find itself a bit higher
than where it started. "We saw a dip in initial jobless claims and
an uptick in durable goods this morning, but the market simply
shrugged them off," said Schaeffer's Senior Equities Analyst Joe
Bell. "We've seen a pickup in volatility lately, and uncertainty
surrounding Europe has left our market chopping around all this
Keep reading to see what else was on our radar today:
And now, a look at the numbers...
Three important technical levels
to watch for the SPX.
- Is fear to blame for the
multi-month peak in put buying
on Wall Street?
Dow Jones Industrial Average (DJI - 12,529.75)
spent time on both sides of breakeven today, but found itself in
positive territory by the closing bell, up 33.6 points, or 0.3%.
Twenty-one of the 30 blue chips finished with gains, as
) led the winning issues with a 3.3%
. Cisco Systems (
) paced the nine losers with a 1.8% drop.
S&P 500 Index (SPX - 1,320.68)
marked its third straight day with a minor gain. The SPX inched up
1.8 points, or 0.1%. Turning in the worst performance of its peers,
Nasdaq Composite (COMP - 2,839.38)
peeled back 10.7 points, or 0.4%.
CBOE Market Volatility Index (VIX - 21.54)
declined more than 3.5% today, closing below 22 for the first time
since May 15.
: "While financial stocks continued to struggle, homebuilders held
up quite well once again," stated Bell. "The market didn't do much
today, and the iShares Russell 2000 Index (
) continued to battle around the $76 area."
Turning to today's major market stories...
For today's activity in commodities, options, and more, head
to page 2.
After suffering a two-day pullback, oil futures rallied and
reclaimed their footing atop the $90 mark. The commodity was buoyed
by a weakening dollar, and a breakdown of talks between the U.N.
and Iran concerning the latter's nuclear capabilities. Oil for July
delivery added 76 cents, or 0.9%, to close at $90.66 a barrel.
Gold futures also ended their three-day slump, catching a lift
from a faltering greenback. June-dated gold added $9.10, or 0.6%,
to land at $1,557.60 an ounce.
Levels to Watch in Trading
- Dow Jones Industrial Average (DJI - 12,529.75) - support at
11,500; resistance at 14,000
- S&P 500 Index (SPX - 1,320.68) - support at 1,100;
resistance at 1,500
- Nasdaq Composite (COMP - 2,839.38) - support at 2,400;
resistance at 3,400
For today's notable annual highs and lows,
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