It was quite a day for the Dow Jones Industrial Average (DJI), which was up more than 216 points at the close -- easily erasing yesterday's loss -- thanks to strong quarterly earnings reactions for 3M Co (NYSE:MMM) and Caterpillar Inc. (NYSE:CAT). This burst of buying power was witnessed elsewhere, as well, with the S&P 500 Index (SPX) and Nasdaq Composite adding 1.2% and 1.6%, respectively. What's more, all three major market indexes are on pace to snap their four-week losing streaks.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 16,677.90) took off right at the open, and remained comfortably higher throughout the day. At its session high, the blue-chip barometer was up more than 300 points, before paring these gains to 216.6 points, or 1.3%, by the close. Of the DJI's 30 components, 26 finished in the green, led by CAT's 5% rally, while AT&T Inc.'s (NYSE:T) 2.4% drop paced the four decliners.
In similar fashion, the S&P 500 Index (SPX - 1,950.82) spent the entire session in the green, and settled up 23.7 points, or 1.2%. The Nasdaq Composite (COMP - 4,452.79) put in the best performance of its peers, tacking on 70 points, or 1.6%.
Amid today's broad-market rally, the CBOE Volatility Index (VIX - 16.53) gave back 1.3 points, or 7.5%.
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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