The Dow dipped 12 points to end the session, however
Stocks ended Thursday's lukewarm trading session on a fairly high note. Though the Dow dipped 12 points to finish the day, it scored a new intraday high. Meanwhile, the Nasdaq traded steadily in the black for the majority of the day to finish with a record close, as investors geared up for a highly anticipated round of earnings from Big Tech next week. The S&P 500 wavered at breakeven for most of the day before finishing out with a fresh closing high as well, while Wall Street pored over President Joe Biden's Covid-19 rescue plan, which includes accelerated vaccine rollout and ramped up production of protective equipment. Also contributing to the upbeat sentiment was better-than-expected jobless data.
Continue reading for more on today's market, including:
- The red-hot payment stock ripe for a fresh round of bull notes.
- UAL's options pits popped off after a disastrous earnings report.
- Plus, SEDG hit with glowing analyst note; how to play Dropbox stock with options; and checking in with MSFT before earnings.
The Dow Jones Industrial Average (DJI - 31,176.01) fell 12.4 points, or 0.04% for the day. Intel (INTC) led the gainers with a 6.5% pop, while Chevron (CVX) fell to the bottom of the barrel with a 3.4% dip.
Meanwhile, the S&P 500 Index (SPX - 3,853.07) settled 1.2 points, or 0.03% higher, and the Nasdaq Composite (IXIC - 13,530.91) rose 73.7 points, or nearly 0.6% for the day.
Lastly, the Cboe Volatility Index (VIX - 21.32) lost 0.3 point, or 1.2% for the day.
- Former-President Donald Trump has yet to assemble a team of lawyers to defend him at his second impeachment trial, despite the possibility of it starting next week. (CNBC)
- A report published by the JPMorgan Chase Institute showed a 10% rise in stock prices correlated with a rise in average spending of just below 1%. (MarketWatch)
- One big name in solar energy got bullish analyst attention today.
- How to play DropBox stock's recent pullback with options.
- A look at Microsoft stock ahead of its highly anticipated earnings report.
Gold Softens in Light of Upbeat Economic Data
Gold gave back some of yesterday's gains, cooling off from a two-week high as a decline in unemployment claims and a rise in new-home construction data helped strengthen the U.S. dollar. This, in turn, put a damper on the precious metal, though some in Wall Street are contending that a pullback has been on the horizon. February-dated gold dropped 60 cents, or fewer than 0.1%, to finish at $1,865.90 per ounce.
Oil prices pulled back on Thursday as well, as investors eyed tomorrow's Energy Information Administration (EIA) data, which is expected to show a decline of 2.5 million barrels in U.S. crude supply. March-dated crude dropped 18 cents, or 0.3% for the day, to settle at $53.13 per barrel.