Dow Jones Industrial Average Gets Hit By Boeing, Canada Shooting

A shooting in Canada's capital puts multiple government buildings on lockdown

by Karee Venema

Published on Oct 22, 2014 at 4:23 PM
Updated on Apr 20, 2015 at 5:32 PM

The Dow Jones Industrial Average (DJI) spent some time above the flatline in early trading, but a poorly received earnings report for The Boeing Company (NYSE:BA), a shooting in Canada's capital, and a slump in energy prices quickly took the wind out of the bulls' sail. In fact, crude settled at its lowest level since June 2012, after the Energy Information Administration (EIA) showed inventories surged last week by a much higher-than-expected amount. Despite a 153-point loss for the blue-chip barometer, it was still able to maintain a hefty portion of yesterday's massive gain.

Continue reading for more on today's market, including:

The Dow Jones Industrial Average (DJI - 16,461.32) traded in a 194-point range today -- spending time on both sides of breakeven -- before eventually closing near its session lows, down 153.5 points, or 0.9%. Of the Dow's 30 components, 24 finished in the red, led by BA's 4.5% plunge. Travelers Companies Inc (NYSE:TRV), meanwhile, paced the six advancers with a 1.4% pop.

The S&P 500 Index (SPX - 1,927.11) also finished near its session nadir, settling with a 14.2-point, or 0.7%, loss. Likewise, the Nasdaq Composite (COMP - 4,382.85) ended the day 36.6 points, or 0.8%, lower.

The CBOE Volatility Index (VIX - 17.87) spent a portion of the day in the red, but switched routes mid-morning, following a bounce off its 40-day moving average. By the time the dust settled, the market's "fear gauge" had tacked on 1.8 points, or 11.1% -- and moved back into the black on a month-to-date basis.

CLOSING SUMMARY – INDICES

CLOSING SUMMARY – NYSE AND NASDAQ

5 Items on Our Radar Today:

  1. A shooting in Ottawa this morning had several Parliament buildings -- and the U.S. Embassy -- on lockdown. At last check, police in Canada's capital were searching for multiple suspects involved with the shooting, which left one member of the Canadian Forces dead. (Bloomberg)
  2. Consumer prices edged up by a higher-than-expected 0.1% in September, according to data released by the Labor Department. Excluding food and energy, the core consumer price index (CPI) also rose by 0.1%, after being flat the month before. (CNBC)
  3. Wall Street weighed in amid BBRY's big week.
  4. 3 stocks that bucked today's bearish bias -- including one that doubled in value.
  5. Put volume exploded on Caesars Entertainment Corp (NASDAQ:CZR), Nokia Corporation (ADR) (NYSE:NOK), and World Wrestling Entertainment, Inc. (NYSE:WWE), ahead of their respective turns in the earnings confessional.
EARNINGS

For a look at today's options movers and commodities activity, head to page 2.

STOCKS – NOTABLE CALL ACTIVITY

STOCKS – NOTABLE PUT ACTIVITY

Commodities:

A much larger-than-expected rise in inventories sent crude oil plunging today. At the close, crude for December delivery was down $1.97, or 2.4%, to settle at $80.52 per barrel -- its lowest finish since June 2012.

Tepid inflation data and a rising dollar pressured gold today, with the December-dated contract shedding $6.20, or 0.5%, to close at $1,245.50 per ounce.


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