Dow Surrenders Gains as Big-Cap Earnings Loom

The Dow Jones Industrial Average (DJIA) began to lose momentum just after midday, eventually retreating back below 18,000 to settle near session lows. Also falling below familiar speed bumps were the Nasdaq Composite (COMP), which gave up the 5,000 mark after a strong start to the day, and the S&P 500 Index (SPX), which closed under 2,100. After a quiet day today, the calendar ramps up tomorrow, with retail sales, the producer price index, and business inventories all scheduled for release, as well as earnings from several blue-chip stocks.

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

• Calls were in demand on this Dow component ahead of earnings, while bulls bought the dip on this popular biotech name.
• The airline stock that soared to 10-year highs on impressive traffic results.
• Aerie Pharmaceuticals Inc (NASDAQ:AERI) had a big day, but it paled in comparison to this fellow drugmaker.
• Plus ... Russia lifts a self-imposed ban, Rubio's in, and the golfer that sent a stock to all-time highs.

The Dow Jones Industrial Average (DJIA - 17,977.04) started strong, but fell below breakeven just after midday, eventually breaching the 18,000 mark. At the close, the blue-chip index was off 80.6 points, or 0.5%. Only five of the index's 30 components finished higher, led by JPMorgan Chase & Co.'s (NYSE:JPM) 0.6% advance ahead of earnings. General Electric Company (NYSE:GE) was easily the biggest loser, dropping 3.1%.

The S&P 500 Index (SPX - 2,092.43) fell 9.6 points, or 0.5%, and settled below the key 2,100 level. The Nasdaq Composite (COMP - 4,988.25) fell back under the 5,000 mark, settling with a loss of 7.7 points, or 0.2%.

The CBOE Volatility Index (VIX - 13.94) added 1.3 points, or 10.8%, but remained just below 14.

5 Items on Our Radar Today:

1. Russian President Vladimir Putin has reportedly lifted a self-imposed ban on missile system deliveries to Iran. The move allows Russia -- which was part of a recent deal that will ease sanctions on Iran -- to receive oil from the country in exchange for other goods, including weapons. (Reuters)
2. The race for the White House in 2016 continues to heat up, with Sen. Marco Rubio coming forward as the latest to enter his name into the candidate circle. The Republican from Florida announced his bid for the presidency this morning, just a day after Hillary Clinton. (Yahoo! News)
3. Did a golfer send Under Armour Inc (NYSE:UA) to record highs?
4. Speaking of record highs: Speculators are better on just that from Starbucks Corporation (NASDAQ:SBUX).
5. How good news for a rival company translated into upside for this music streaming name.

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

Commodities:

Rumors of stimulus measures out of China following disappointing trade data lifted crude to a win today. By the close, May-dated crude rose 27 cents, or 0.5%, to settle at $51.91 per barrel -- its third straight finish in the black.

Gold dropped today, hurt by a stronger dollar. At session's end, gold for June delivery was off $5.30, or 0.4%, at $1,199.30 per ounce, giving back the psychologically significant $1,200 mark.