The Dow Jones Industrial Average (DJI) gained ground today, with traders shrugging off a post-earnings slide from Cisco Systems, Inc. (NASDAQ:CSCO) and a steeper-than-forecast rise in first-time jobless claims. Instead, buyers were encouraged by surprisingly diplomatic remarks from Russian President Vladimir Putin. "We need to consolidate and mobilize but not for war or any kind of confrontation," said Putin, speaking in Crimea. "... [W]e do not intend, like some people, to dash around the world with a razor blade and wave that blade around." With hopes on the rise for a calmer geopolitical atmosphere, the major market indexes climbed modestly higher.
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The Dow Jones Industrial Average (DJI - 16,713.58) closed up 61.8 points, or 0.4%, as 23 of its 30 components ended higher -- led by 1.8% gains for Pfizer Inc. (NYSE:PFE) and The Boeing Company (NYSE:BA). Meanwhile, Cisco paced the six decliners with a 2.6% drop, and Exxon Mobil Corporation (NYSE:XOM) finished flat. Today marked the Dow's highest close since July 30.
The S&P 500 Index (SPX - 1,955.18) advanced 8.5 points, or 0.4%, and joined the Dow in hitting its highest daily close of the month. The Nasdaq Composite (COMP - 4,453.00) added 18.9 points, or 0.4%, to join its counterparts at a fresh August high.
The CBOE Volatility Index (VIX - 12.42) fell 0.5 point, or 3.7%. The VIX settled at its lowest level since July 24.
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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