Dow Jones Industrial Average Skyrockets, Tops 18K

Stocks Rebound as Tech Flips the Script; Plus, Is Lowe's the Next Lumber Liquidators?

May 1, 2015 at 4:22 PM
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Apple Inc. (NASDAQ:AAPL) bounced back in a big way, lifting the Dow Jones Industrial Average (DJIA) to a triple-digit victory -- and back above 18,000. Biotechs also recovered, helping to send the Nasdaq Composite (COMP) sharply north. Meanwhile, traders digested a largely disappointing round of economic data, with construction spending and the Institute for Supply Management's (ISM) manufacturing index missing estimates. However, U.S. auto sales and consumer sentiment picked up in April.


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


The Dow Jones Industrial Average (DJIA - 18,024.06) jumped out of the gate, finishing 183.5 points, or 1%, higher -- and above the 18,000 mark. Twenty-seven of the blue-chip index's components advanced, led by AAPL's 3% pop. Chevron Corporation (NYSE:CVX) paced the three decliners, down 1.8% after earnings. On a weekly basis, the Dow slipped 0.3%.

The S&P 500 Index (SPX - 2,108.29) added 22.8 points, or 1.1%, to clear the 2,100 level, while the Nasdaq Composite (COMP - 5,005.39) tacked on 64 points, or 1.3%, to topple 5,000. Week-over-week, however, the SPX and COMP retreated 0.4% and 1.7%, respectively.


The CBOE Volatility Index (VIX - 12.70) plunged 1.9 points, or 12.7%. On a weekly basis, the market's "fear gauge" was up 3.3%.






5 Items on Our Radar Today:


  1. U.S. automakers Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) reported better-than-expected vehicles sales for the month of April, rising 6% and 5.4%, respectively. As a whole, the industry is on pace for its best year in nearly 10, powered by strong demand for trucks and SUVs. (Reuters, via CNBC)
  2. Six Baltimore police officers were charged with murder, manslaughter, and other crimes, following the death of Freddie Gray. The charges, which followed a medical examiner's report ruling the death a homicide, were met with celebration in the streets. (The New York Times)
  3. Buyout buzz lifted shares of Monsanto Company (NYSE:MON), as well as this pharmaceutical titan.
  4. The aluminum stock that broke out on an earnings beat.
  5. This company's partnership with Tesla Motors Inc (NASDAQ:TSLA) sent its shares to the moon.










June crude was pressured lower on reports Iraqi exports reached a 30-year high, giving back 48 cents, or 0.8%, to settle at $59.15 per barrel. However, liquid gold gained 3.5% on a weekly basis, for its seventh straight week-over-week gain.

Gold gave up ground for a third consecutive session amid a stronger dollar. The June-dated contract dropped $7.90, or 0.7%, to land at $1,174.50 per ounce -- its lowest level in six weeks. Relative to last Friday's close, the malleable metal was down less than 0.1%.



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