The Dow Jones Industrial Average (DJI) bounced back from last week's 2.8% drop, as traders weighed earnings from Berkshire Hathaway Inc. (NYSE:BRK.B) and Michael Kors Holdings Ltd (NYSE:KORS) against a bailout for Portugal's troubled Banco Espirito Santo. After spending time on both sides of breakeven, the day's action eventually resolved to the upside, with the blue-chip barometer notching a nearly 76-point gain -- and coming within a chip-shot of positive year-to-date territory -- by the close.
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After edging back into the black on a year-to-date basis, the Dow Jones Industrial Average (DJI - 16,569.28) pared a portion of these earlier gains to close 75.9 points, or 0.5%, higher -- just shy of its 2014 breakeven mark of 16,576.66. All but five of the DJI's 30 components finished in the black, paced by The Walt Disney Company (NYSE:DIS), which tacked on 2.2%. Bringing up the rear was The Procter & Gamble Company (NYSE:PG), which shed 0.5% by the close. Wal-Mart Stores, Inc. (NYSE:WMT) finished flat.
The S&P 500 Index (SPX - 1,938.99) found support at its 80-day moving average today, eventually settling 13.8 points, or 0.7%, higher. Similarly, the Nasdaq Composite (COMP - 4,383.89) gained a foothold from its 50-day moving average, ending the session with a gain of 31.3 points, or 0.7%.
The CBOE Volatility Index (VIX - 15.12) shed 1.9 points, or 11.2%, today, but managed to finish atop 15 for a third consecutive session.
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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