The Dow Jones Industrial Average (DJI) blazed a steady path higher throughout the session -- catapulted by a stellar earnings reception for Visa Inc (NYSE:V) -- and the S&P 500 Index (SPX) kissed the 2,000 level before trimming its lead. Adding fuel to the bullish fire, the Commerce Department said U.S. gross domestic product (GDP) rose by more than expected in the third quarter, overshadowing an uptick in first-time jobless claims. It wasn't all rosy on the Street, though; the Nasdaq Composite (COMP) had trouble gaining steam, as tech stocks struggled to keep up with their blue-chip peers, while the New York Stock Exchange (NYSE) suffered a mid-session setback.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 17,195.42) finished with a 221.1-point, or 1.3%, gain, and now stands in positive territory for the month. Visa led the 25 advancing blue chips, tacking on 10.2%, while Intel Corporation (NASDAQ:INTC) countered with a 4% drop.
The S&P 500 Index (SPX - 1,994.65) rallied as high as 1,999.40, but settled with a gain of 12.4 points, or 0.6%. The 2,000 level has eluded the broad-market barometer since mid-to-late September. Unlike its peers, the Nasdaq Composite (COMP - 4,566.14) spent a healthy portion of the session in the red, but eventually tacked on a relatively modest 16.9 points, or 0.4%.
The CBOE Volatility Index (VIX - 14.52) spent most of the day cautiously lower, giving up 0.6 point, or 4.2%, by the bell.
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
Featured Partners: AOL DailyFinance
© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: email@example.com
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.