Dow Snags 500-Point Win as Earnings Roll In

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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

  1. 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)
  2. 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)
  3. Options traders target Plug Power stock after Walmart deal
  4. Analysts eye logistics name after upbeat earnings. 
  5. 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.