Early Stimulus Sign-off Sends Dow, S&P 500 to Record Closes

President Biden signed the Covid-19 relief bill earlier than expected

Deputy Editor
Mar 11, 2021 at 4:30 PM
facebook twitter linkedin

Stocks rose in incredible fashion on Thursday, after U.S. President Joe Biden signed the $1.9 trillion Covid-19 relief bill earlier than expected. The bill will put $1,400 direct payments into millions of Americans' bank accounts, and see $20 billion go toward vaccinations, as well as $350 billion into state, local, and tribal relief. In response, the Dow rose 188 points, notching its third-straight intraday high, while the S&P 500 soared to a record close. Elsewhere, the Nasdaq scored a win too, and is continuing to fight for fresh highs after dipping into correction territory earlier in the week.

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

  • A quick guide on the ins and outs of options pricing.
  • There's a lot to love about Texas Instruments stock.
  • Plus, why PRTY plunged today; which pharma company's vaccine use was paused; and more on MSGN's merger news.

The Dow Jones Industrial Average (DJI - 32,485.59) rose 188.6 points, or 0.6% for the day. Boeing (BA) topped the list of winners, rising 2.7%, while Verizon (VZ) fell to the bottom of the blue-chips, losing 2.7%.

Meanwhile, the S&P 500 Index (SPX - 3,939.34) added 40.5 points, or 1% for the day. The Nasdaq Composite (IXIC - 13,398.67) gained 328.8 points, or 2.5% for the day.

Lastly, the Cboe Volatility Index (VIX - 21.91) shed 0.7 point, or 2.9%, for the day.

Closing summary 0311

nyse nasdaq 0311

  1. The most recent stimulus package was a big step in the right direction, but months of inaction still had costs. (CNBC)
  2. Now that the stimulus package has cleared Congress, here is when you can expect your $1,400 direct payment. (MarketWatch)
  3. Party City stock took a breather after a dismal quarterly report.
  4. Several countries in Europe paused the use of this company's vaccine.
  5. Big merger and acquisition news helped MSGN move higher.

Earnings 0311


Gold Logs Third-Straight Win

Oil prices finished Thursday higher, as the rollout of Covid-19 vaccine helped boosted investor sentiment and U.S. fuel stocks plunged. However, Texas' unprecedented winter storm last month saw oil inventories surge, resulting in a cap on further gains from black gold today. In response, April-dated crude gained $1.58, or 2.5%, to settle at $66.02 per barrel on the day.

Gold scored its third-straight win, rising as bond yields continue to retreat and the U.S. dollar continues to soften. Bullion's win also comes after a report on consumer inflation, which suggested that the situation may not be as dire as some investors anticipated. As a result, April-dated gold added 80 cents, or 0.05%, to settle at $1,722.60 an ounce on the day.


Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!