Stock Market Today, July 7, 2014: The Dow Jones Industrial Average dropped more than 50 points as investors weren't willing to take risky positions ahead of earnings season. Cyclical and small-cap stocks lagged the hardest this afternoon. The CBOE Volatility index soared more than 11%, the largest hike in nearly three months. The bounce was significant, as the index hit its lowest level since February 2007 last Thursday.

Here's the scorecard from today's trading session:

Dow: 17,024.21, -44.05 (-0.26%)
S&P 500: 1,977.65, -7.79 (-0.39%)
Nasdaq: 4,451.53, -34.40 (-0.77%)

And here are the top stories from the stock market today:

• To Your Health: Shares of BlackBerry Ltd. (Nasdaq: BBRY) jumped more than 6.5% on news that short-sellers have been covering their positions against the firm. The company also announced plans to launch its own healthcare service that will "enable early detection of illnesses" by crunching data from thousands of medical devices. The company has launched a trial run of this program in India.
• Dot-Com IPOs: Online storage startup Box Inc. announced that it raised more than $150 million ahead of its planned initial public offering from private-equity firm TPG and hedge fund Coatue Management. The company is currently valued at more than $2 billion.
• Swiping Amex: Shares of American Express Co. (NYSE: AXP) were down marginally as the company kicks off a trial against the U.S. government and 17 states. Regulators accuse American Express of violating antitrust rules and stifling competition by prohibiting businesses from lowering processing fees to pass on savings to customers.
• Another Big IPO: Colorado-based Vantage Energy Inc. announced plans to raise $400 million in an initial public offering. The oil and natural gas company develops energy properties in the Marcellus Shale in Pennsylvania and the Barnett Shale in Texas. The company will list itself as VEI on the New York Stock Exchange. For all the important IPO news for 2014, go here.
• Vacation Destination: Shares of Expedia Inc. (Nasdaq: EXPE) dropped 1.5% on news that the company will purchase Australian online travel site Wotif.com for roughly $657 million. The acquisition is aimed at helping Expedia gain traction in the booming Asia-Pacific travel markets.
• You're Approved: Shares of BioDelivery Sciences International Inc. (Nasdaq: BDSI) spiked more than 8% on news that the company's experimental pain drug BEMA buprenorphine, which it manufactures with Endo International Plc. (Nasdaq: ENDP), has been deemed effective in late-stage trials.

Now our experts share some of the most important investment moves to make based on today's market trading - for Money Morning Members only:

• The U.S. Export Ban Is a Windfall for These Companies: After more than four decades, it looks like America is getting back into the oil export business again. For the first time since the 1970s, Washington has opened the door to sending more U.S. crude abroad. And these companies are poised to profit big from the announcement...
• The "20% Catalyst" That Will Send These Shares into the Stratosphere: In a surprise move, France also said it would take a 20% stake in French engineering giant Alstom SA (OTCMKTS ADR: ALSMY). It's a complicated deal. But it could serve as an additional "catalyst" for the General Electric Co. (NYSE: GE) share-price rally we've been predicting. Here's why...
• How to Tap Big Profits in That "Other" Bioscience Niche: There's an approach to making profits in bioscience that doesn't rely on breakthrough discoveries, expensive drug trials, or constant cash infusions to fuel its engine. That's what makes the company we'll look at today such an attractive investment. Welcome to the lucrative world of generics...