Dow Jones Industrial Average Wins Wild Day

Stocks went on another roller-coaster ride today, as a strong round of quarterly earnings and an extended bounce in oil helped dull the pain of a pair of disappointing economic reports. The Dow Jones Industrial Average (DJIA) shrugged off a midday slump, thanks to Caterpillar Inc.'s (NYSE:CAT) well-received earnings and a crude-related bump for Chevron Corporation (NYSE:CVX). Meanwhile, a huge pop in revenue had Facebook Inc (NASDAQ:FB) within striking distance of a new record high -- and helped boost the Nasdaq Composite (COMP) to a big win. 

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

• Inovio Pharmaceuticals Inc (NASDAQ:INO) and this fellow drugmaker managed to buck a bad day for biotechs.
• This athletic apparel stock just had its best day ever.
• 3 stocks hammered on ugly guidance.
• Plus ... Durable goods disappoint, Cam's cool million, and the Apple Inc. (NASDAQ:AAPL) supplier who turned in a stellar earnings report.
  

Although the Dow Jones Industrial Average (DJIA - 16,069.64) was off nearly 81 points at its intraday low, it managed to close 125.2 points, or 0.8%, higher. Twenty-two of the Dow's 30 components settled with gains, led by CAT's 4.7% advance. American Express Company (NYSE:AXP) paced the eight decliners with its 3% drop.

The S&P 500 Index (SPX - 1,893.36) took a brief trip north of 1,900 at the open, before eventually settling with a slimmer 10.4-point, or 0.6%, gain. The Nasdaq Composite (COMP - 4,506.68), meanwhile, outperformed its peers, jumping 38.5 points, or 0.9%.

The CBOE Volatility Index (VIX - 22.42) retreated 0.7 point, or 3%, and back below the call-heavy 23 mark.

 



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5 Items on Our Radar Today:

1. Durable goods orders dropped a wider-than-expected 5.1% last month, due to tumbling oil prices, weak global demand, and a stronger dollar. Elsewhere, pending home sales edged up 0.1% in December -- less than the 1% economists had forecast. (CNBC; MarketWatch)

2. Carolina Panthers quarterback Cam Newton made made an extra $1 million in endorsements last week, after securing his team's spot in the Super Bowl last Sunday. Newton is currently in deals with General Motors Company (NYSE:GM), Microsoft Corporation (NASDAQ:MSFT), and Under Armour Inc (NYSE:UA), among others, and is the highest-paid NFL pitchman. (Bloomberg)

3. Unlike AAPL, Cirrus Logic, Inc. (NASDAQ:CRUS) soared in the wake of its results and subsequent round of bullish brokerage notes.

4. Option bears are circling Alphabet Inc (NASDAQ:GOOGL) ahead of next week's big announcement.

5.  Schaeffer's contributor Adam Warner unveiled a new way to track VIX exchange-traded funds.

 
Data courtesy of Trade-Alert

Commodities:

Crude oil rose again today -- nabbing its third consecutive win -- but ended off its session highs, after Organization of the Petroleum Exporting Countries (OPEC) officials reportedly denied plans to meet with Russia over output cuts. The March-dated contract finished up 92 cents, or 2.9%, at $33.22 per barrel -- its highest settlement since Jan. 7 -- after peaking at $34.82 in intraday trading.

Gold, meanwhile, closed lower for a second straight session, as a rally in equity markets cooled demand for the safe-haven asset. At the close, gold for April delivery was off 20 cents at $1,116.10 per ounce.