Fed Comments, Oil Prices Drag Down Markets

Nancy Pelosi just accused Attorney General William Barr of lying to Congress

Digital Content Manager
May 2, 2019 at 4:28 PM
facebook X logo linkedin

The Dow fell for the second day in a row, dropping over 120 points, as investors continue to stew over Fed Chair Jerome Powell's comments on Wednesday. Elsewhere, House Speaker Nancy Pelosi accused Attorney General William Barr of misleading Congress over special counsel Robert Mueller's report, calling his action a "crime." Against this backdrop -- and in the wake of sinking oil prices -- the S&P 500 and Nasdaq also ended in the red.

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

  • This battered pharma stock could double could double, according to one analyst.
  • The cosmetics stock pulling back from its record highs.
  • Bausch Health stock is flashing a "buy" signal before earnings.
  • Plus, options traders are flocking to Nutanix stock; how Schaeffer's subscribers made big bucks on VEEV; and a post-earnings slip from Square. 

The Dow Jones Industrial Average (DJI - 26,307.79) lost 122.4 points, or 0.5%, in today's trading. Eleven of the 30 Dow stocks ended in the black, with Home Depot (HD) at the helm on a 1.1% pop. Dow Inc (DOW), on the other hand, was the worst of the 19 losers, ending 6.1% lower after earnings. 

The S&P 500 Index (SPX - 2,917.52) fell  6.2 points, or 0.2%. The Nasdaq Composite (IXIC - 8,036.77) ended 12.9 points, or 0.2%, lower.

The Cboe Volatility Index (VIX - 14.42) was 0.38 point, or 2.6%, lower. 

Closing Indexes Summary May 2

NYSE and Nasdaq Stats May 2

5 Items on our Radar Today

  1. Fast food concern Burger King has just launched its new line of burger meals called "Real Meals" during Mental Health Awareness Month, in order to shed light on the issue. The four "Real Meals" -- meant as a direct jab at burger rival McDonald's "Happy Meals" -- range from Blue Meal to Yaas Meal and include a Whopper, fries, and a drink. (CNBC)
  2. The first climate change bill in over 10 years was just passed by the U.S. House of Representatives in a 231-to-190 vote. The bill would keep President Donald Trump from withdrawing from the Paris Climate Agreement, though Senate Majority Leader Mitch McConnell said the Senate would not take up the bill. (Reuters)
  3. Why options traders are piling on Nutanix stock today. 
  4. How Schaeffer's subscribers just doubled their money on this red-hot tech stock.  
  5. Why Morgan Stanley dumped SQ stock, despite an earnings' beat.

Corporate Earnings May 2

Unusual Options Activity May 2

Data courtesy of Trade-Alert

Oil Hits Monthly Lows as Supply Fears Fade; Gold Hits 2019 Low

Oil continued to sink today, hitting a one-month low, as easing fears over worldwide oil supplies overshadowed increasing political turmoil in Venezuela. June-dated crude futures finished $1.79, or 2.8%, lower, to close at $61.81 a barrel.

Traders' dashed hopes of a Fed rate cut helped push gold futures to a new year-to-date low. June-dated gold ended $12.20, or 1%, lower at $1,272 an ounce.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI