The Dow Jones Industrial Average (DJI) started the day on positive ground, with a stronger-than-forecast report on industrial production helping to set the bullish tone. Unfortunately, the major equity indexes tumbled into the red by midday, as geopolitical tensions once again rose to the surface. Reports of a Russian incursion into Ukrainian territory rattled investors -- and sent oil futures sharply higher. However, U.S. stocks pared their losses in afternoon trading, and ultimately ended the week with respectable gains.
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The Dow Jones Industrial Average (DJI - 16,662.91) was up more than 60 points early in the day -- and down more than 138 at its session low -- but eventually settled on a loss of just 50.7 points, or 0.3%. Among the eight advancing blue chips, The Coca-Cola Company (NYSE:KO) led the way with a 1.7% gain. Visa Inc (NYSE:V) paced the laggards with a 1.1% drop. For the week, the Dow tacked on nearly 0.7%.
The S&P 500 Index (SPX - 1,955.06) traded in a 22.5-point range before ultimately closing on a deficit of just 0.1 point, or 0.01%. The Nasdaq Composite (COMP - 4,464.93) battled all the way back into the black by the close, finishing up 11.9 points, or 0.3%. On a weekly basis, the SPX rose 1.2%, while the COMP outperformed with a 2.2% jump.
The CBOE Volatility Index (VIX - 13.15) ended today on a gain of 0.7 point, or 5.9%. For the week, however, the VIX fell 16.6%.
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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