2014-01-18 Weekend Market Update (Brief New All-Time Highs Are Met With Selling Pressure)
Weekend Market Update
Brief New All-Time Highs Are Met With Selling Pressure
The S&P 500 (SPX) closed at an all-time high of 1848.38 on Wednesday (only 0.02 above the December 31st close), but investors took advantage of the high equity prices by taking profits on Thursday and Friday. The (SPX) finished the week lower by 0.20%, while the Dow Jones Industrial Average (DJIA) and the Nasdaq-100 (NDX) rose 0.13% and 0.73%, respectively. Weakness over the past two trading days helped the spot Volatility Index finish the week higher by 2.47%, but it remains near multi-year lows.