Crude hit a year-to-date peak as stocks rallied
The Dow Jones Industrial Average (DJIA) traded higher from start to finish, as JPMorgan Chase & Co. (NYSE:JPM) extended its earnings-induced gains, and Intel Corporation (NASDAQ:INTC) showed off earnings strength of its own. The blue-chip index now awaits results from two other financial heavyweights -- as well as UnitedHealth Group Inc. (NYSE:UNH) -- tomorrow. Elsewhere, the Nasdaq Composite (COMP) took back the closely watched 5,000 mark and extended its impressive year-to-date lead. The biggest winner of all, though, was crude, which continued to blaze a path higher, reaching its highest levels of 2015.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJIA - 18,112.61) held solid gains throughout the day. At the close, the blue-chip index was up 75.9 points, or 0.4%. Twenty-one of the index's 30 components finished in the black, with INTC's 4.3% after-earnings advance taking the top spot. On the flip side, UNH paced the losers with a 2.2% drop.
The S&P 500 Index (SPX - 2,106.69) stormed higher as well, adding 10.8 points, or 0.5%, to take back the 2,100 level. The Nasdaq Composite (COMP - 5,011.02) overtook 5,000 for a gain of 33.7 points, or 0.7%.
The CBOE Volatility Index (VIX - 12.84) dropped 0.8 point, or 6.1%, falling back below 13 and marking its second-lowest close of 2015.
5 Items on Our Radar Today:
- At a news conference this morning, a protestor rushed at European Central Bank (ECB) President Mario Draghi, leaping onto a desk and tossing confetti in the air. The protestor shouted "End the ECB dictatorship" before being carried away by security. (Reuters)
- Economic growth was primarily "modest" from mid-February through the end of March, according to the latest Beige Book from the Federal Reserve, as a stronger dollar, oil prices, and severe winter weather weighed on manufacturing demand. (CNBC)
- Freeport-McMoRan Inc's (NYSE:FCX) flew up the charts today -- but bears weren't impressed in the least.
- The construction firm that took a rally respite.
- Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) was looking good today, trading at record highs.
For a look at today's options movers and commodities activity, head to page 2.
Commodities:
Crude futures skyrocketed to a fresh year-to-date high, after domestic supplies rose by less than forecast. By the close, May-dated oil was up $3.10, or 5.8%, at $56.39 per barrel.
After an early trek into the red, gold reversed course as the dollar cooled off. June-dated gold finished with a gain of $8.70, or 0.7%, at $1,201.30 an ounce, rebounding from a month-to-date low.