The Dow Jones Industrial Average (DJI) traded in a roughly 141-point range today, eventually settling with a 19-point gain. This, despite a poorly received earnings report from blue-chip International Business Machines Corp. (NYSE:IBM), which plunged more than 7% in the wake of its results -- its biggest one-day drop since April 2013. This bullish bias was witnessed elsewhere on the Street, with the broader S&P 500 Index (SPX) closing above 1,900 for the first time since Oct. 10, and the Nasdaq Composite's (COMP) 1.4% pop easily outpacing its peers. Small-caps also showed signs of life, with the Russell 2000 Index (RUT) adding 1.2%.
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The Dow Jones Industrial Average (DJI - 16,399.67) spent time on both sides of breakeven today, eventually closing 19.3 points, or 0.1%, higher. Of the Dow's 30 components, 24 finished in the green -- led by The Walt Disney Company's (NYSE:DIS) and Nike Inc's (NYSE:NKE) 2% pops. IBM paced the four decliners with its 7.1% drop.
The S&P 500 Index (SPX - 1,904.01) stair-stepped its way higher throughout the session, adding 17.3 points, or 0.9%, by the close. In similar fashion, the Nasdaq Composite (COMP - 4,316.07) spent almost the whole day in the green, tacking on 57.6 points, or 1.4%.
The CBOE Volatility Index (VIX - 18.57) charted a path steadily lower, finishing with a 3.4-point, or 15.6% loss. What's more, the market's "fear gauge" closed south of its 10-day moving average for the first time since Oct. 8.
5 Items on Our Radar Today:
For a look at today's options movers and commodities activity, head to page 2.
The Case for Big Moves in IWM and QQQ
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