Wal-Mart Helps Dow End Higher in Record-Setting Session
TheDow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) all posted record highs in early trading, but both the S&P and Nasdaq struggled to stay positive during the second half of the session. Retail giant Wal-Mart Stores (WMT) kept the Dow ahead of the pack, with WMT stock closing 4.5% higher after the company announced a $20 million buyback plan. However, with the first wave of third-quarter earnings reports due out in the second half of this week, bulls had a fairly modest appetite for equities today.
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The Dow Jones Industrial Average (DJIA - 22,830.68) hit an all-time intraday high of 22,850.51 in early trading, before ending with a gain of 69.6 points, or 0.3%, at a new record closing peak. While WMT led the 20 Dow gainers, UnitedHealth Group (UNH) paced the 9 losers with a 0.9% drop. Meanwhile, Microsoft (MSFT) was unchanged.
The S&P 500 Index (SPX - 2,550.64) touched a record high of 2555.23, before finishing 5.9 points, or 0.2% higher. The Nasdaq Composite (IXIC - 6,587.25) set its own intraday peak of 6,608.30, before ending up 7.5 points, or 0.1%.
The CBOE Volatility Index (VIX - 10.08) lost 0.3 point, or 2.4%.
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There were no earnings of note today.
Data courtesy of Trade-Alert
Commodities
Crude futures rose for a second straight session -- for the first time since late September -- and posted a more than one-week high on optimism surrounding Saudi Arabia's pledge to cut exports. November-dated oil futures ended with a gain of $1.34, or 2.7%, at $50.92 per barrel.
Gold posted its third consecutive session win, marking its longest win streak in five weeks and settling at a two-week high with help from a weakening U.S. dollar. December-dated gold ended up $8.80, or 0.7%, at $1,293.80 an ounce.