Stocks Close Mixed With Corporate Earnings Ahead

Gold and oil both suffered a daily loss

Managing Editor
Apr 11, 2019 at 4:36 PM
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U.S. markets closed a choppy session mixed ahead of first-quarter earnings season, which unofficially kicks off tomorrow with early morning results from big banks JPMorgan Chase (JPM) and Wells Fargo (WFC). After being cautiously higher most of the morning, the Dow succumbed to pressure from UnitedHealth (UNH), which dropped on a pre-earnings price-target cut. The Nasdaq was in the red with the Dow at the close, while the S&P 500 muscled to a win in the final minutes of trading. 

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

The Dow Jones Industrial Average (DJI - 26,143.05) shed 14.1 points, or 0.05%. Boeing (BA) led the 16 blue-chip gainers, adding 1.4%. UNH was the biggest loser, shedding 4.3%. 

The S&P 500 Index (SPX - 2,888.32) closed fractionally higher, while the Nasdaq Composite (IXIC - 7,947.36) lost 16.9 points, or 0.2%.

The Cboe Volatility Index (VIX - 13.02) slipped 0.3 point, or 2.1%. 

closing indexes summary april 11

nyse and nasdaq stats april 11

5 Items on our Radar Today

  1. Consumers look to be purchasing more clothing and furniture at wholesale retailer Costco (COST), per its March same-store sales results released after Wednesday's close.  Total comparable sales growth came in below estimates, sending COST 1.8% lower to close at $241.24. (MarketWatch)
  2. In his annual letter to shareholders, Amazon CEO Jeff Bezos challenged other retailers to raise their minimum wage to $15 per hour, as it did last fall. Though not naming competitors, Bezos said, "Do it! Better yet, go to $16 and throw the gauntlet back at us. It's a kind of competition that will benefit everyone." Despite a push from Democrats to hike the federal minimum wage to the same threshold, it remains at $7.25 an hour. (CNBC)
  3. This retail stock has cheap options right now.
  4. Barclays downgraded this stock on China concerns.
  5. Bed Bath & Beyond shares held key support amid today's sell-off.

corporate earnings april 11

unusual options activity april 11

Data courtesy of Trade-Alert

Gold Snaps Four-Day Win Streak

Oil took a hit in today's trading, after an International Energy Agency (IEA) report warned a slowing global economy could weigh on crude demand. May-dated crude futures shed $1.04, or 1.6%, to close at $63.58 per barrel.

Gold snapped its four-day win streak as the U.S. dollar strengthened. June-dated gold closed below the psychologically significant $1,300 per ounce mark -- down $20.60, or 1.6%, to settle at $1,293.30 an ounce.

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