Dow Reverses Lower But Notches Monthly Gain

Oil prices rose after Israel's Netanyahu said 'Iran lied' about nuclear weapons

Managing Editor
Apr 30, 2018 at 4:25 PM
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U.S. stocks fell today, with the Dow giving up an early lead. A solid earnings showing from McDonald's (MCD) and a strong day from Apple (AAPL) weren't enough to keep the blue-chip index afloat, with Verizon (VZ) stock among the telecoms hit after an official merger announcement from Sprint (S) and T-Mobile (TMUS). In addition, traders also weighed the latest inflation data ahead of Wednesday's Fed meeting. Despite today's losses, though, the Dow, S&P, and Nasdaq managed to eke out monthly gains.

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

  • 2 Dow stocks that could move tomorrow.
  • Analyst: Buy Spotify stock ahead of earnings.
  • 2 healthcare stocks to buy right now.
  • Plus, a new FAANG partnership; a Snapchat earnings preview; and why one media stock has been swarmed by short sellers.

The Dow Jones Industrial Average (DJI - 24,163.15) shed 148 points, or 0.6%, for the day. MCD was the biggest of the five blue-chip winners, surging 5.8%, while VZ was the biggest loser, falling 4.3%. The Dow gained 0.3% for the month.

The S&P 500 Index (SPX - 2,648.05) lost 21.9 points, or 0.8%, while the tech-heavy Nasdaq Composite (IXIC - 7,066.27) gave up 53.5 points, or 0.8%. The indexes picked up 0.3% and 0.04% for the month, respectively.

The Cboe Volatility Index (VIX - 15.93) gained 0.5 point, or 3.4%, on the day. The market's "fear gauge" took a 20.2% loss for the month.

closing indexes summary april 30

nyse and nasdaq stats april 30

5 Items on Our Radar Today

  1. Walt Disney not only scored big with the latest "Avengers" movie, the media titan also said it will begin creating content specifically for Twitter. The two companies will unveil more details about the partnership this week. (CNBC)
  2. The House of Lords voted to allow parliament to veto or delay upcoming Brexit bills. The "meaningful vote" amendment is another blow to Prime Minister Theresa May's plans to leave the European Union, but could be overturned in the lower house. (Reuters)
  3. The FAANG partnership that sent Fitbit stock higher.
  4. How option traders are playing Snap earnings.
  5. Why short sellers have swarmed New York Times stock.

corporate earnings april 30

unusual options activity april 30

Data courtesy of Trade-Alert

Oil Rebounds on Israel Proclamation

Oil managed to recover from an underwhelming start, after Israel's Prime Minister Benjamin Netanyahu said he has proof that "Iran lied, big time" about nuclear weapons programs. The announcement fueled expectations that President Donald Trump will impose sanctions on oil-rich Iran. June-dated crude finished up 47 cents, or 0.7%, at $68.57 per barrel.

Gold suffered after the dollar saw a solid day of gains and geopolitical tensions continued to ease following last week's meeting of the Koreas. June-dated futures finished down $4.20, or 0.3%, to settle at $1,319.20 per ounce.


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