Wall Street Posts Rebound on Apple Outperformance

Gold scored its best day of September so far

Deputy Editor
Sep 14, 2020 at 4:34 PM
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Stocks managed to keep up momentum into the close today, with gains stemming from the tech sector's rebound as well as plenty of new corporate deals. The Dow finished the day up over 320 points, returning some of last week's losses, alongside the S&P 500 and the Nasdaq, as Apple (AAPL) extended its impressive gains. Meanwhile, investor sentiment regarding the coronavirus vaccine appears increasingly optimistic, with AstraZeneca (AZN) restarting trials and Pfizer's (PFE) CEO Albert Bourla announcing that if proven effective, the company's vaccine could be distributed in the U.S. by the end of the year. 

Continue reading for more on today's market, including:

    • Bull note boosts software stock ahead of earnings.
    • Gilead stock sees options volume on big-time deal. 
    • Plus, options bulls are piling on this grocery giant; Domino's stock is heating up; and what sent ORCL to a fresh record high.

    The Dow Jones Industrial Average (DJI - 27,993.33) added 327.7 points, or 1.2%. American Express (AXP) paced the list of winners today, finishing the day 3.8% higher. Meanwhile, Chevron (CVX) landed at the bottom with a modest 0.5% drop.

    Meanwhile, the S&P 500 Index (SPX - 3,383.54) gained 42.6 points, or 1.3% for the day. The Nasdaq Composite (IXIC - 11,056.65) tacked on 203.1 points, or 1.9% for today's session. 

    Lastly, the Cboe Volatility Index (VIX - 25.85) fell 1 point, or 3.8%.

    Indexes Sept 14


    1. Twelve companies are expected to go public this week, the most since May 2019, when Uber Technologies (UBER) went public. Notable names include Snowflake (SNOW), Unity Software (U), and real estate investment trust (REIT) Broadstone Net Lease (BNL). (MarketWatch)
    2. While Oracle (ORCL) and TikTok parent ByteDance cross the T’s and dot the I’s on their merger, Alphabet (GOOGL) and YouTube are prepping a rival social media short-form video service. The video-sharing platform will be called Shorts, with testing beginning later this week in India. Fellow FAANG name Facebook (FB) has already rolled out its own competitor, Instagram’s Reels. (Reuters)
    3. Three stocks boosted on buyout buzz.
    4. TMO locks in fourth-straight on analyst praise.
    5. Blue-chip stock rose on potential customer increase.

    There were no earnings of note today.


    Data courtesy of Trade-Alert

    Gold Posts Best One-Day Gain of September

    Oil finished marginally lower today, as demand concerns remain despite recent pandemic optimism. Investors are also eyeing the approach of Hurricane Sally. October-dated crude shed 9 cents, or 0.2%, to settle at $37.24 per barrel.

    Gold, meanwhile, broke out thanks to a weakening dollar. Gold for December delivery added $15.80, or 0.8%, to settle at $1,963.70 an ounce, it’s best one-day gain of September.


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