The Dow Jones Industrial Average (DJI) spent some time above the flatline in early trading, but a poorly received earnings report for The Boeing Company (NYSE:BA), a shooting in Canada's capital, and a slump in energy prices quickly took the wind out of the bulls' sail. In fact, crude settled at its lowest level since June 2012, after the Energy Information Administration (EIA) showed inventories surged last week by a much higher-than-expected amount. Despite a 153-point loss for the blue-chip barometer, it was still able to maintain a hefty portion of yesterday's massive gain.
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The Dow Jones Industrial Average (DJI - 16,461.32) traded in a 194-point range today -- spending time on both sides of breakeven -- before eventually closing near its session lows, down 153.5 points, or 0.9%. Of the Dow's 30 components, 24 finished in the red, led by BA's 4.5% plunge. Travelers Companies Inc (NYSE:TRV), meanwhile, paced the six advancers with a 1.4% pop.
The S&P 500 Index (SPX - 1,927.11) also finished near its session nadir, settling with a 14.2-point, or 0.7%, loss. Likewise, the Nasdaq Composite (COMP - 4,382.85) ended the day 36.6 points, or 0.8%, lower.
The CBOE Volatility Index (VIX - 17.87) spent a portion of the day in the red, but switched routes mid-morning, following a bounce off its 40-day moving average. By the time the dust settled, the market's "fear gauge" had tacked on 1.8 points, or 11.1% -- and moved back into the black on a month-to-date basis.
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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