Dow Logs 5-Day Losing Streak After Fed Minutes
July 11, 2012 Leave a Comment
Stocks recovered from their worst levels but still finished lower Wednesday in choppy trading, after minutes of the Federal Reserve’s latest meeting offered no strong hints about more easing to prop up the sluggish economy.
The Dow Jones Industrial Average posted its five-day losing streak, dragged by United Tech [UTX 72.51 -1.64 (-2.21%) ] and Boeing [BA 71.52 -1.70 (-2.32%) ]. The blue-chip index was down more than 100 points at its session low.
The S&P 500 and the Nasdaq also finished lower. The CBOE Volatility Index, widely considered the best gauge of fear in the market, traded below 18. (Read More: What Low VIX May Mean for Stocks) Among the key S&P sectors, energy gained, while industrials slipped.Read More