The Nasdaq snapped its three-day losing streak
Big Tech brought a welcome surge to the broader market today, with all three major indexes logging healthy gains. Both the Dow and tech-heavy Nasdaq locked in triple-digit wins, the latter snapping a three-day losing streak and the former hitting its highest settlement since Feb. 15. The S&P 500 also nabbed its highest close since February, and the market's "fear gauge," or Cboe Volatility Index (VIX), fell to a multi-month low. Driving investors today was better-than-expected March producer price index (PPI) data, which came in at a 0.5% month-on-month decline.
Continue reading for more on today's market, including:
- 3 stocks that made outsized moves today.
- How Tax Day impacts options trading.
- Plus, retailer nears historically bearish trendline; HOG's c-suite news; and a supply company slipping.
Things to Know Today
- Officials working the case on the leaked Pentagon documents arrested 21-year-old Jack Teixeira, an Air National Guardsman that allegedly committed the largest U.S. intelligence leak since Edward Snowden. (NBC)
- Rent in Manhattan, N.Y. has hit its highest mark to date, with the median cost reaching $4,175 for March. (Bloomberg)
- Wayfair stock bucked by bearish trendline.
- CFO exit sent Harley-Davidson stock sinking.
- Fastenal stock stalls out on new pressures.
Gold Snags 2nd-Highest Close on Record
Crude shifted lower, though investor sentiment remained stagnant. For the session, May-dated crude shed $1.10, or 1.3%, to close at $82.16 per barrel.
Gold futures enjoyed a healthy surge Thursday, as the U.S. dollar weakened and Fed rate concerns lingered. June-dated gold gained $30.40 or 1.5%, to settle at $2,055.30 an ounce -- its highest close since August 2020, or second-highest on record.