Dow Jones Industrial Average Loses Pre-Fed Nailbiter

The Dow Jones Industrial Average (DJIA) traded in a 161-point range today, exploring both sides of breakeven before eventually settling in the red. Stocks weighed rising oil prices against uncertainty ahead of this week's big central bank meetings from the Federal Reserve and the Bank of Japan -- with both policy announcements due on Wednesday. Elsewhere, housing stocks muscled higher, after the National Association of Home Builders (NAHB) housing market index jumped to its highest perch in nearly a year.

Continue reading for more on today's market, including:

• A huge regulatory win helped this drug stock nearly double in value.
• The explosive iPhone 7 chatter that weighed on Apple Inc. (NASDAQ:AAPL).
• Steel stocks got a boost, after one brokerage firm waxed optimistic on AK Steel Holding Corporation (NYSE:AKS) and its sector peer.
• Plus... The Tesla-SolarCity deal gets sidelined, GoPro's big reveal, and the tech stock at an appealing entry point.
  

The Dow Jones Industrial Average (DJIA - 18,120.17) closed with a 3.6-point, or 0.02%, loss. Fifteen of the Dow's 30 components closed lower, paced by Merck & Co., Inc.'s (NYSE:MRK) 1.5% drop. 3M Co (NYSE:MMM) led the other half higher with its 1% gain.

The S&P 500 Index (SPX - 2,139.12) settled fractionally lower, while the Nasdaq Composite (COMP - 5,235.03) gave back 9.5 points, or 0.2%.

The CBOE Volatility Index (VIX - 15.53) added 0.2 point, or 1%.

5 Items on Our Radar Today

1. In a regulatory filing, Tesla Motors Inc (NASDAQ:TSLA) said its proposed takeover of SolarCity Corp (NASDAQ:SCTY) could be delayed after several shareholders filed lawsuits (subscription required) claiming board members breached fiduciary responsibilities. TSLA agreed to buy SCTY in early August. (The Wall Street Journal)
2. GoPro Inc (NASDAQ:GPRO) unveiled a swath of new products today, including the Hero 5 Black and Hero 5 Session -- cameras capable of 4K video. Additionally, GPRO revealed its compact and foldable drone, GoPro Karma. Options volume soared on the stock before and after the event. (CNET)
3. As Barron's waxed optimistic on this tech stock's appealing entry point, one options trader bet big on a short-term floor.
4. Option bulls kept the faith on Twitter Inc (NYSE:TWTR), despite accusations the stock's price was "artificially inflated" in early 2015.
5. 3 stocks that popped on M&A buzz.

Data courtesy of Trade-Alert

Commodities:

Signs of a potential supply disruption in Libya and a possible deal among global oil producers to stabilize supply created tailwinds for crude oil. At session's end, October-dated crude was up 27 cents, or 0.6%, at $43.30 per barrel.

A cooling U.S. dollar was a boon for gold prices. By the close, gold for December delivery was up $7.60, or 0.6%, at $1,317.80 an ounce.