The Dow Jones Industrial Average (DJI) was down triple digits at its session low, as mounting geopolitical concerns sparked a "risk off" attitude. However, President Obama took to the podium this morning, urging diplomacy between Russia and Ukraine, and calling for an immediate cease-fire in Gaza, where casualties have topped 500. The commander in chief's words -- which stopped just short of threatening more sanctions against Russia -- brought a few buyers back from the sidelines, with the major market indexes paring their losses in afternoon trading.
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The Dow Jones Industrial Average (DJI - 17,051.73) was down more than 125 points at its lowest point of the day, but pared its loss to 48.5 points, or 0.3%, to maintain its perch atop the 17,000 level. Just eight of the Dow's 30 blue chips finished north of breakeven, led by Intel Corporation's (NASDAQ:INTC) 1.1% gain. General Electric Company (NYSE:GE) paced the decliners for a second straight session, surrendering 1.8%.
The S&P 500 Index (SPX - 1,973.63) also bounced back from its intraday lows, settling 4.6 points, or 0.2%, lower. The Nasdaq Composite (COMP - 4,424.70) came the closest to positive territory, but still finished with a loss of 7.5 points, or 0.2%.
The CBOE Volatility Index (VIX - 12.81) shot higher out of the gate today, but trimmed its lead to 0.8 point, or 6.2%, by the bell. The market's "fear gauge" ended north of its 80-day moving average for the second time in three sessions.
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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