The Nasdaq outperformed alongside a bounce in tech
U.S. stocks closed significantly higher in today's trading, with bullish sentiment stoked by impressive corporate earnings. Specifically, a strong post-report rally from UnitedHealth (UNH) helped send the Dow more than 567 points higher at its intraday peak, while traders also cheered results from big-cap names like Goldman Sachs (GS) and Johnson & Johnson (JNJ). Big earnings moves could continue to be a theme tomorrow, with results from Netflix (NFLX) and IBM (IBM) hitting the Street after tonight's closing bell.
Continue reading for more on today's market, including:
- Founder and CEO Bernie Schaeffer calls out the major VXX moving average that just jumped back into play.
- Analysts expect an earnings surprise from PayPal.
- The fracking stock with massive call volume.
- Plus, bet on a bounce for Lowe's; 2 stocks drilled after earnings; and a steel stock breakdown.
The Dow Jones Industrial Average (DJI - 25,798.42) surged 547.9 points, or 2.2%, for the day. All 30 Dow stocks closed in the black, with UNH as the top performer, finishing up 4.7%. Meanwhile, Verizon (VZ) picked up just 0.2%.
The S&P 500 Index (SPX - 2,809.92) added 59.1 points, or 2.2%, while the Nasdaq Composite (IXIC - 7,645.49) rose 214.8 points, or 2.9%, on the day.
The Cboe Volatility Index (VIX - 17.62) lost 3.7 points, or 17.3%, for the day. The VIX notched its third consecutive close below the crucial 21.70-22.50 area.
5 Items on our Radar Today
- Uber rival Lyft today announced its new 30-day riding subscription, which allows up to 30 free rides of up to $15 each (or more at a discounted rate) for $299 per month. The program is called the All-Access Pass, and the company said it is "the first step toward... making car ownership optional." (CNBC)
- Another noteworthy launch today comes from Kroger (KR), which revealed that within the past week, it had begun delivering wine through a partnership with Drinks, an online winery site. The service is available in 14 states, including Florida and California. (MarketWatch)
- Why you should bet on a Lowe's stock bounce.
- Domino's and BlackRock stocks fell despite earnings beats.
- Steel Dynamics breached crucial chart support ahead of earnings.
Data courtesy of Trade-Alert
Gold Ends at 2-Month High
Oil moved higher as talks collapsed between Saudi Arabia and Kuwait regarding the restarting of production in the the "neutral zone" oil fields. November-dated crude futures added 14 cents, or 0.2%, to close at $71.92 per barrel.
Gold futures remained little changed, as investors continued to seek refuge in the precious metal amid a continuously volatile market. December-dated gold added 70 cents, or 0.06%, to close at $1,231 per ounce -- its highest finish since July 31.