The Dow Jones Industrial Average (DJIA) traded in a tight range once again, as stocks struggled to make a meaningful move in either direction. Although the S&P 500 Index ( SPX ) and Nasdaq Composite (COMP) both hit record highs early in the session -- highlighted by a surge in Apple stock -- following this weekend's French presidential election , the latest talk from regional Fed presidents may have capped stocks' upside momentum. Wall Street's attention could turn back to corporate earnings tomorrow, with Dow component Disney stock and semiconductor concern NVIDIA on the schedule.
Continue reading for more on today's market, including:
- The VIX signal flashing for first time since the financial crisis.
- Options traders are taking sides ahead of NVIDIA earnings .
- Barron's : This FANG stock will rally another 20%.
- Plus, analysts keep warming up to Tesla; Goldman knocks a popular chipmaker; and the deadly drug trial that sank one biotech.
The Dow Jones Industrial Average (DJIA- 21,012.28) ticked above breakeven late in the session, closing up 5.3 points, or 0.03%. Just nine of 30 Dow components closed in the black, though. Aside from AAPL's 2.6% jump, Exxon Mobil stock also outperformed with a 0.7% rise. DuPont led the 18 Dow losers, falling 1.3%.
The S&P 500 Index (SPX - 2,399.38) managed to add 0.1 point, or less than 0.01%. The Nasdaq Composite (COMP - 6,102.66) also eked out a win, adding 1.9 points, or 0.03%.
The CBOE Volatility Index (VIX - 9.77) lost 0.8 point, or 7.6%, for its lowest close since December 1993. Earlier in the session, the VIX bottomed at 9.67 -- its lowest intraday point since December 2006.
5 Items on Our Radar Today:
- Market research firm eMarketer has come out with a study displaying the dominance of Amazon's Echo . According to their research, the Echo has helped the company control 70% of the U.S. voice-enabled device market. Alphabet's Google Home is the closest competitor. ( Reuters )
- It was a big day on the M&A front, and one deal that can't be overlooked is Comcast's agreement with Charter Communications. The two companies will work together to bring telecom services to the U.S. market. (The New York Times)
- Why Evercore ISI is now more confident about Tesla stock .
- Goldman is growing cold on this semiconductor stock .
- The biotech stock rocked by a patient death .