The Dow Jones Industrial Average (DJI) recovered from Thursday's sell-off to end the week respectably higher, despite growing geopolitical tensions. As negative headlines continued to pour out of Ukraine and Gaza, traders focused instead on stronger-than-forecast second-quarter revenue from Google Inc. (NASDAQ:GOOGL). Today's advance was broad-based, with big-caps and small-caps alike marching higher -- though crude and gold futures couldn't manage to maintain Thursday's positive momentum.
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The Dow Jones Industrial Average (DJI - 17,100.18) rallied 123.4 points, or 0.7%, to bring its weekly gain to 0.9%. Johnson & Johnson (NYSE:JNJ) and The Boeing Company (NYSE:BA) paced the 28 advancing blue chips with gains of 1.4% each. General Electric Company (NYSE:GE) ended down 0.6% after earnings, while Intel Corporation (NASDAQ:INTC) finished flat. The Dow has now finished two of the past three weeks atop the 17,000 level.
The S&P 500 Index (SPX - 1,978.22) jumped 20.1 points, or 1%, to notch an advance of 0.5% for the week. The Nasdaq Composite (COMP - 4,432.15) rose 68.7 points, or 1.6% -- but collected the smallest weekly gain, up just 0.4% from last Friday's close.
The CBOE Volatility Index (VIX - 12.06) took a tumble, giving up 2.5 points, or 17.1%. As a result, the VIX gave up all of its ground for the week, ending down 0.2%.
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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