Dow Snags 500-Point Win as Earnings Roll In
Posted On April 19, 2022
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The Dow, S&P 500, and Nasdaq all logged their best single-session gain since March 16
Stocks finished confidently higher today, as a batch of strong earnings reports lifted investor sentiment. The Dow surged 499.5 points for its best day since March 16, with help from Johnson & Johnson’s (JNJ) post-earnings pop. The Nasdaq and S&P 500 also posted their best days in over a month, the former buoyed by a substantial rally from tech stocks.
Today’s rally came even after the 10-year Treasury yield briefly touched 2.93% — a level not seen since late 2018. Meanwhile, after better-than-expected economic data, investors are awaiting reports from Netflix (NFLX) and IBM (IBM) after today’s close.
Continue reading for more on today’s market, including:
- Bull signal consistently accurate for Datadog stock.
- Why these rideshare names climbed today.
- Plus, PLUG’s new partner; JBHT posts cheerful results; and CarMax underperforms.
The Dow Jones Average (DJI – 34,911.20) rose 499.5 points, or 1.5% for the day. Nike (NKE) led the gainers with a 4.1% rise, while Travelers Companies (TRV) dropped to the bottom of the index with a 4.9% loss.
The S&P 500 Index (SPX – 4,462.21) added 70.5 points, or 1.6%, for the day, while the Nasdaq Composite (IXIC – 13,619.66) jumped 287.3 points, or 2.2%.
Lastly, the Cboe Market Volatility Index (VIX – 21.37) fell 0.8 point, or 3.6%.
5 Things To Know Today
- Amid Johnson & Johnson (JNJ) stock’s post-earnings surge, it’s worth noting that Alabama has reached a $276 million opioid settlement with Johnson & Johnson, McKesson (MCK), and End International (ENDP). (Reuters)
- Walmart (WMT) is helping launch an art and music festival in the Ozark Mountains of Arkansas, inspired by Texas’s Austin City Limits Festival. (MarketWatch)
- Options traders target Plug Power stock after Walmart deal.
- Analysts eye logistics name after upbeat earnings.
- CarMax stock idling near its recent lows.
Oil, Gold Fall from Highs
Oil prices fell from their three-week highs today. May-dated West Texas Intermediate (WTI) crude shed $5.65, or 5.2%, to settle at $102.56 a barrel.
With the rising U.S. dollar in the background, gold prices fell from last session’s five-week high. June-dated gold gave back $27.40, or 1.4%,to settle at $1,959 an ounce.