The Nasdaq Composite notched its best weekly percentage gain in nearly three years
Another day, another triple-digit advance for the Dow Jones Industrial Average (DJI), which tacked on more than 127 points today, and snapped its four-week losing streak. Boosting the 30-stock index was another round of well-received earnings reports from blue chips, this time from Microsoft Corporation (NASDAQ:MSFT) and Procter & Gamble Co (NYSE:PG). Not to be left out, the S&P 500 Index (SPX) added 0.7% -- and notched its best weekly percentage win of the year -- while the Nasdaq Composite (COMP) also tacked on 0.7%, and logged its best week-over-week percentage gain since December 2011.
Continue reading for more on today's market, including:
It was a slow start to the day, but around 10:30 a.m. ET, the Dow Jones Industrial Average (DJI - 16,805.41) began powering higher -- and finished the session up 127.5 points, or 0.8%. Twenty-seven of the Dow's 30 components gained ground today, led by MSFT's 2.5% advance. Visa Inc (NYSE:V) paced the three decliners with its 0.4% drop. For the week, the DJI added 2.6%.
The S&P 500 Index (SPX - 1,964.58) also spent some time below its flatline this morning, before rallying to a 13.8-point, or 0.7%, gain, while the Nasdaq Composite (COMP - 4,483.72) tacked on 30.9 points, or 0.7%. On a weekly basis, the SPX and COMP rose 4.1% and 5.3%, respectively.
The CBOE Volatility Index (VIX - 16.11) shed 0.4 point, or 2.5%. For the week, the market's "fear gauge" surrendered 26.7%.
5 Items on Our Radar Today:
- New home sales rose 0.2% in September to 467,000 units, according to the Commerce Department. August's numbers, meanwhile, were revised down by 38,000 units to 466,000. While September's results missed the consensus estimate, it was still the loftiest reading in six years. (CNBC)
- Although the full results of the European Central Bank's (ECB) stress tests, or Asset-Quality Review, will not be released until Sunday, draft documents suggest that 25 out of 130 eurozone lenders likely failed. In a statement released, the ECB said it cannot "comment on speculation about the outcome of the comprehensive assessment. Any inferences drawn as to the final outcome of the exercise would be highly speculative until the results are final." (Bloomberg)
- Oppenheimer weighed in on a number of large financial firms, and is predicting strong moves to the upside for Bank of America Corp (NYSE:BAC), Citigroup Inc (NYSE:C), and JPMorgan Chase & Co. (NYSE:JPM).
- Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR) was headed higher in early action, but ended the day down 5.8%, as concerns over Ebola took a backseat to earnings.
- Option bears weren't buying Petroleo Brasileiro Petrobras SA's (ADR) (NYSE:PBR) pre-election pop.

For a look at today's options movers and commodities activity, head to page 2.
Commodities:
Reports that Saudi Arabia will not be cutting production sent crude lower today, with the December-dated contract closing down $1.08, or 1.3%, at $81.01 per barrel. For the week, black gold surrendered 1.3%.
Gold edged higher as the dollar declined. By the close, gold for December delivery was up $2.70, or 0.2%, at $1,231.80 per ounce. Week-over-week, the malleable metal gave back 0.6%.