The VIX brought its multi-day losing streak to four
The major indexes closed today's choppy session higher -- the Dow snagging a surprise 100-point win -- as investors struggled for direction amid the start of a fresh earnings week. Bank earnings are in focus, with Charles Schwab (SCHW) kicking things off this morning, just weeks after the bank sector blunder. Despite eyeing a win for most of the day, the Cboe Volatility Index (VIX) tacked on its fourth-straight drop.
Continue reading for more on today's market, including:
- History says this chip stock could bounce.
- Facebook parent stirs up pre-earnings buzz.
- Plus, bank stock brushes off lackluster report; bulls circle pharma stock; and the SPX level to watch.
Things to Know Today
- Apple (AAPL) launched a savings account for users with an Apple Card. The account can be created through the iPhone's Wallet feature and holds a 4.15% annual yield. (CNBC)
- As part of the telecom company's turnaround efforts, Ericsson (ERIC) Chief Financial Officer (CFO) Carl Mellander, will leave his post early 2024. (MarketWatch)
- Which bank giant brushed off a revenue miss.
- Biogen stock bombarded with bull notes.
- Key S&P 500 level to watch right now.
Oil Backpedals on Demand Worries
Crude demands remained at the forefront of investor's minds, sending oil lower for today's session. May-dated crude fell $1.69, or almost 2.1%, to close at $80.83 per barrel.
Gold continued extended Friday's losses into the new week, ending the day lower. The June-dated commodity slipped $8.80 or 0.4%, to settle at $2,007 an ounce after briefly dipping below the key $2,000 level.