Markets Get a Boost as U.S. Softens Huawei Restrictions

Boeing helped lift the Dow on reports that a bird strike caused the 737 Max crash

Lillian Currens
May 21, 2019 at 4:32 PM
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The Dow enjoyed a rebound today, with the index ending on a roughly 200-point gain, sparked in large part by the U.S.'s decision to temporarily ease restrictions on China's Huawei. The tech-rich Nasdaq finished higher as well, as the Huawei news helped boost chip stocks. Elsewhere, blue-chip concern Boeing (BA) helped boost the Dow amid reports that a bird strike may have caused its deadly 737 Max crash last March. The S&P 500 joined its index peers in the black, despite a rough day for a few retail stocks

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

  • Step into this shoe stock ahead of earnings, says analyst. 
  • Buy the dip on this chip stock
  • The FAANG partnership luring options bulls to this penny stock 
  • Plus, 2 drug stocks demolished today; option bulls flock to Aurora Cannabis; and Snapchat's C-suite shakeup. 

The Dow Jones Industrial Average (DJI - 25,877.33) gained 197.4 points, or 0.8%, in today's trading. Twenty-five of the 30 blue chips finished higher, with Intel (INTC) and Caterpillar (CAT) leading the pack with 2% gains. Procter & Gamble (PG) paced the laggards with a 0.9% dip. 

The S&P 500 Index (SPX - 2,864.36) ended 24.1 points, or 0.9%, higher, and  the Nasdaq Composite (IXIC - 7,785.72) ended 83.4 points, or 1.1%, higher.

The Cboe Volatility Index (VIX - 14.95) was 1.36 points, or 8.3%, lower. 

Closing Indexes Summary May 21

NYSE and Nasdaq Stats May 21

5 Items on our Radar Today

  1. McDonald's is feeling the heat today, after several activist groups -- including the American Civil Liberties Union, The Time's Up Legal Defense Fund, and Fight for $15 -- filed 23 additional complaints against the burger chain, over its alleged mishandling of sexual harassment in the workplace. (CNBC)
  2. As an homage to the nostalgia-rich Netflix series "Stranger Things'"  upcoming third season, beverage giant Coca-Cola will re-release its New Coke recipe, which originally launched (and subsequently flopped) in the summer of 1985 -- the year the show's newest season takes place. (MarketWatch)
  3. 2 pharma stocks that got slammed today. 
  4. ACB options bulls are gearing up for a big Friday finish
  5. Snap shareholders reacted to a C-suite shake up. 

Corporate Earnings May 21

Unusual Options Activity May 21

Data courtesy of Trade-Alert

Oil, Gold Futures Creep Lower

Oil for June delivery inched lower today, losing 11 cents, or 0.1%, to end at $62.99 a barrel, as anxiety over U.S.-China trade weighed on demand expectations.

With focus back on rising markets, and with the dollar strengthening, gold inched lower today. Gold for June delivery hit a new two-week low, down $4.10, or 0.3%, to settle at $1,273.20 an ounce. 


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