Just a Regular Day of Record Highs, No Big Deal
As the trading session wraps up, the Dow Jones Industrial Average closed up 0.15% to 16,947.08, the S&P 500 gained 0.17% to 1,962.87, and the Nasdaq climbed 0.2% to 4,368.04. Markets refrained from expected volatility over the session, the usual response to quadruple witching which refers to the expiration of various stock index futures, stock index options, stock options and single stock futures.
Though major U.S. indices are in the green, further upside was restrained by continued conflict in Iraq. Announced Thursday, President Obama has sent 300 U.S. Special Operations troops to support the Iraqi army in combatting insurgents from the al-Qaeda splinter group, Islamic State of Iraq and Syria (ISIS). President Obama said additional action is possible if needed, but that combat troops will not be sent to Iraq.
Despite the shadow of tension in the Middle East, Astor Investment Management CEO Robert Stein assures the economic fundamentals remain sound. "Drama, politically, sometimes causes markets to correct or have spikes and volatility so that could happen but I would suggest ... that [it] would not derail where the expected path is for risk assets and equities," he told TheStreet.
In corporate news, Oracle
Likewise, Darden Restaurant
U.K. drugmaker Shire
On the agenda next week, Bed, Bath & Beyond
-- By Keris Alison Lahiff and Andrea Tse in New York