Stocks Muscle Higher on Dovish Fed

The U.S. stock market closed higher, as investors digested the Federal Open Market Committee's (FOMC) March meeting minutes, released mid-afternoon, which showed the central bank supports no rate changes this year. This forecast -- down from the two rate hikes projected in December -- is a reaction to concerns over a slowing global economy, Brexit uncertainty, and the U.S.-China trade spat. While the Dow muscled to a win on tailwinds from big bank Goldman Sachs (GS), the S&P 500 gained ground on the back of a positive earnings reaction for Delta Air Lines (DAL).

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

• 2 transport stocks that are signaling a bounce.  
• The big bank bear alarm flashing.
• Options traders eyed a quick rebound for downgraded Apple stock.
• Plus, the growing pot stock; the housing giant to avoid; and the retailer Citigroup is bullish on.

The Dow Jones Industrial Average (DJI - 26,157.16) scraped together 6.6 points, or 0.03%. Goldman Sachs (GS) led the 19 blue-chip gainers, adding 1.2%. Boeing (BA) was the biggest loser, shedding 1.1%. 

The S&P 500 Index (SPX - 2,888.21) managed a 10-point, or 0.3%, gain, while the Nasdaq Composite (IXIC - 7,964.24) added 55 points, or 0.7%.

The Cboe Volatility Index (VIX - 13.30) shed 1 point, or 6.9%. 

5 Items on our Radar Today

1. Following reports she was failing to find adequate monetary support for her presidential campaign, Massachusetts Democratic Sen. Elizabeth Warren's team shared that 135,000 donations brought in $6 million in the first quarter. This number pales in comparison to Democratic front runner Bernie Sanders, however, who is said to have gained $6 million in his first day alone. Warren is known for critiquing big dollar donations. (CNBC)
2. The consumer price index (CPI) today revealed that the cost of living increased a notable amount in the month of March. Specifically, the number grew 1.9%, with most Americans paying more for gas and rent. (MarketWatch) 
3. Which pot stock just grew higher on a plant expansion.
4. Stay cautious of this surging housing stock. 
5. Citigroup: This retailer is ready to rumble.

Data courtesy of Trade-Alert

Gold Marks Fourth Straight Gain

Oil prices rose, as news of a big drawdown in gasoline stockpiles offset a data that showed domestic crude inventories hit their loftiest peak since November 2017. May-dated crude added 63 cents, or 1%, to settle at $64.62 per barrel.

Gold marked a fourth straight gain, after the European Central Bank (ECB) struck a dovish tone in its policy announcement. June-dated gold tacked on $5.60, or 0.4%, to settle at $1,313.90 an ounce.