The Dow and SPX both finished the day in the black
The Dow started the month out strong today, closing with an 238-point pop. The S&P 500 Index finished in the black as well, while the Nasdaq suffered a minor loss. Investor sentiment is mostly positive and pointed toward reopening optimism today, with states continuing to lift Covid-19 restrictions and several major companies announcing strong growth. There is some mixed U.S. manufacturing data to sift through for April as well.
Continue reading for more on today's market, including:
- Options traders target volatile crypto stock.
- Oil name boosted on heels of analyst praise.
- Plus, ALL hits record high; the sports betting name upgraded; and behind this NIO bull note.
The Dow Jones Industrial Average (DJI - 34,113.23) added 238.4 points, or 0.7%, for the day. Dow (DOW) topped the list of gainers today with a 3.3% win, while Salesforce.com (CRM) landed at the bottom after dropping 2.8%.
The S&P 500 Index (SPX - 4,192.66) gained 11.5 points, or 0.3%, while the Nasdaq Composite (IXIC - 13,895.12) fell 67.6 points, or 0.5%.
Lastly, the Cboe Volatility Index (VIX - 18.31) lost 0.3 point, or 1.6% for the day.
- Microsoft is picking a new default font after 14 years. Here is what the creator of the current font, Calibri, has to say. (CNBC)
- New York City is easing Covid-19 restrictions, and the city's subway will return to its 24-hour service in mid-May. (Marketwatch)
- Insurance name hit a fresh peak ahead of earnings.
- Analyst praises DKNG as sports betting legalizations continue.
- Delivery surge lifts this electric vehicle maker.
There were no earnings of note today.
Oil, Gold Start Month Strong After April Gains
Oil prices rose today, building off April's 7.5% gain, as the reopening economy continues to point toward stronger demand. June-dated crude gained 91 cents, or 1.4%, to settle at $64.49 a barrel.
Gold futures finished higher today to snap a four-session losing streak, as bond yields/inflation concerns ease. June-dated gold rose $24.10, or 1.4%, to settle at $1,791.80 an ounce.