Nasdaq Retreats from Record High as Stocks Slip

The Nasdaq hit a record intraday high today thanks to blowout earnings for online retailer eBay (EBAY), but couldn't sustain this momentum into the close. The S&P 500 and Dow closed lower, too, pressured by a negative earnings reaction for Caterpillar (CAT) and big drops for energy stocks Exxon Mobil (XOM) and Chevron (CVX). Nevertheless, losses were muted as Wall Street looks ahead to another busy batch of earnings reports, with Microsoft (MSFT) and Facebook (FB) among those reporting tonight.

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

• 2 mining stocks to watch tomorrow.
• Why Lululemon Athletica stock could stay hot.
• The defense sector had Wall Street buzzing.  
• Plus, the S&P signal flashing; the drug stock that waffled after earnings; Amkor traders respond to Airpods hype.

The Dow Jones Industrial Average (DJI - 26,597.05) lost 59.3 points, or 0.2%, for the day. Walt Disney (DIS) was the best of the 12 Dow gainers, adding 1.3%. On the flip side, Chevron paced the remaining losers with its 3.1% drop.

The S&P 500 Index (SPX - 2,927.25) gave up 6.4 points, or 0.2%. The Nasdaq Composite (IXIC - 8,102.15) let go of 18.8 points, or 0.2%.

The Cboe Volatility Index (VIX - 13.14) added 0.9 point, or 7%.

5 Items on our Radar Today

1. The nationwide outbreak of measles has worsened, specifically in New York City (NYC). Since October, 390 cases have been noted, and looks to be focused in the Brooklyn's Williamsburg and Borough Park areas. NYC Mayor Bill de Blasio declared a public health emergency on April 9, attaching a $1,000 fine to those in certain neighborhoods who refuse to comply with receiving a vaccination. (CNBC)
2. Following recent details surrounding Disney's (DIS) streaming service, a survey out of Streaming Observer and Mindnet Analytics showed that 8.7 million, or nearly 14%, of Netflix (NFLX) users could considering leaving the latter platform for Disney+. Around 600 current Netflix subscribers were surveyed, of which 37.5% said they plan to at the very least try Disney's latest entertainment endeavor. (MarketWatch)
3.  This S&P signal could mean low volatility, says Schaeffer's Senior Quantitative Analyst Rocky White. 
4.  The drug stock that just waffled after earnings.
5.  Airpods hype made call volume spike on Amkor stock.

Data courtesy of Trade-Alert

Oil Cools on Big Stockpile Build

Following a bigger-than-expected rise in domestic stockpiles last week , oil settled lower on the day. Front-month June-dated crude futures shed 41 cents, or 0.6%, to close at $65.89 per barrel.

Gold bounced back from yesterday's multi-month lows, as stocks struggled. June-dated gold added $6.20, or 0.5%, to settle at $1,279.40 per ounce.