Dow Finishes in Red on IBM Fallout; VIX Snaps Losing Streak

Oil prices surged to a three-year high after a jump in U.S. stockpiles

Managing Editor
Apr 18, 2018 at 4:25 PM
facebook X logo linkedin

Stocks ended a wishy-washy session mixed, with the Dow settling lower following IBM's disappointing earnings. On the other hand, the S&P and Nasdaq managed to eke out daily wins, following a slew of well-received corporate earnings. In addition, energy stocks kept the two indexes afloat, as oil prices surged to a three-year high on an unexpected decline in weekly crude inventories. Meanwhile, the VIX -- or Wall Street's "fear gauge" -- snapped a six-session losing streak.

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

The Dow Jones Industrial Average (DJI - 24,748.07) fell 38.6 points, or 0.2%, for the day. Home Depot (HD) was the biggest of the 14 gainers, surging 2.8%, while IBM was the biggest of the losers, falling 7.5%.

The S&P 500 Index (SPX - 2,708.64) picked up 2.3 points, or 0.1%, while the Nasdaq Composite (IXIC - 7,295.24) gained 14.1 points, or 0.2%.

The Cboe Volatility Index (VIX - 15.60) snapped its losing streak, and gained 0.4 point, or 2.3%, for the day.

Closing Indexes Summary April 18

NYSE and Nasdaq Stats April 18

5 Items on Our Radar Today

  1. Following Southwest Airlines' fatal engine malfunction, it was discovered that the Federal Aviation Administration (FAA) had just suggested in August that a tighter regulation check be conducted on the same model engine. The CFM56-7B engine is used frequently and internationally, though Southwest claims the incident is the first ever on-board fatality it has experienced. (CNBC)
  2. Europe is experiencing a surge in solar power usage, thanks to the increase in warmer weather this week. Following a long and chilly winter, countries such as England and Germany are seeing a boost in solar production as the sun extends its stay. The heat wave comes just ahead of this weekend's London Marathon. (Bloomberg
  3. Why Best Buy stock got a huge Amazon boost.
  4. 2 drug stocks that broke out after an FDA nod.
  5. Analysts call for action on these 2 fast food stocks.

Corporate Earnings April 18

Unusual Options Activity April 18

Data courtesy of Trade-Alert

Oil Notches 3-Year High

Oil trekked its way to a more than three-year high today, following an unexpected drop in U.S. crude supplies, as well as signs of soaring gasoline demand. May-dated crude ended up $1.95, or 2.9%, to finish at $68.47 per barrel.

A weaker dollar and a shaky session for stocks sent gold to its highest close in a week. June-dated futures finished up $4, or 0.3%, to settle at $1,353.50 per ounce.


Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI