The benchmarks finished the day mixed
Stocks finished the day mixed following yesterday's sharp losses. Just off yesterday's worst daily percentage drop since September 2020, the Nasdaq inched lower despite investors circling back to Big Tech amid upbeat earnings. The spotlight will remain on those reports as well, with Facebook parent Meta Platforms (FB) set to report earnings after the close, while Apple (AAPL) and Amazon.com (AMZN) share their reports tomorrow. Meanwhile, the S&P 500 closed just above breakeven, while the Dow landed firmly in the black. In economic data, pending home sales fell for the fifth-straight month, losing 1.2% in March, while the U.S. trade deficit in goods soared 17.8% in March to a record $125.3 billion.
Continue reading for more on today's market, including:
- 2 stocks experienced wild post-earnings swings today.
- Microsoft stock received plenty of attention after its report.
- Plus, Kraft Heinz raised its sales forecast; bears blasted BA; and PLTR still struggling on the charts.
The Dow Jones Average (DJI - 33,301.93) rose 61.8 points, or 0.2%. Visa (V) topped the list of Dow members with a 6.5% rise, while Boeing (BA) sank to the bottom after shedding 7.5%.
The S&P 500 Index (SPX - 4,183.96) added 8.8 points, or 0.2%, while the Nasdaq Composite (IXIC - 12,488.93) dropped 1.8 points, or 0.01%.
Lastly, the Cboe Market Volatility Index (VIX - 31.60) fell 1.9 point, or 5.7%.
5 Things To Know Today
- As volatility spikes, the hedge fund industry attracted its largest inflows in seven years during the first quarter. (CNBC)
- Harvard University created a $100 million fund with efforts to make up for its historic ties to slavery. (Reuters)
- Kraft Heinz announced an upbeat quarter amid solid demand.
- Options bears blast blue-chip airplane giant.
- Checking in with underperforming Palantir stock.
Gold Hits 2-Month Low
Oil prices rose for the second day, after data showing U.S. gasoline inventories falling 1.6 million barrels last week, when analysts expected a 100,000 barrel rise. June-dated West Texas Intermediate (WTI) crude added 32 cents, or 0.3%, to close at $102.02 a barrel.
Gold futures resumed their losing run today, falling to a two-month low as the U.S. dollar continues to climb. June-dated gold dropped $15.40, or 0.8%, to close at $1,888.70 an ounce -- its sixth day of losses in the last seven.