For the most part it was an uneventful day. The S&P 500 (SPX) traded in a low-to-high range of around 8 points and finished close enough to the breakeven line for me to call it flat.
A look to the sector action shows little going on there either. We had mild strength the PowerShares Clean Energy ETF (PBW), SPDR Homebuilders (XHB), and Dow Jones Transport Index (.TRAN) with weakness in the Amex Networking Index (NWX) and Amex Gold Bugs Index (HUI). However, all of those moves were capped near one percent.
As I touched on Friday, and mentioned again this morning, it seems reasonable to expect some traders to sit on the sidelines ahead of the FOMC and employment report. Perhaps tomorrow will defy that expectation and give us some interesting action?
Chart Courtesy of Thomson Financial
| Index |
Index Value |
Point Change |
Percent Change |
| S&P 500 (SPX) |
1396.4 |
-1.5 points |
-0.11 percent |
| Dow Jones Industrial Average (DJIA) |
12871.8 |
-20 points |
-0.16 percent |
| Nasdaq Composite (COMP) |
2424.4 |
1.5 points |
0.06 percent |
| Russell 2000 (RUT) |
725.4 |
3.5 points |
0.48 percent |
| CBOE Market Volatility Index (VIX) |
19.64 |
0.05 points |
0.3 percent |
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