U.S.-Iran tensions escalated after a drone was shot down
The Dow locked up a 249-point gain today, as well as its fourth straight win and highest close since Oct. 3's record highs. Wall Street continued to cheer yesterday's dovish Fed comments, helping the S&P 500 nab a new intraday record high, and ushering gold futures to a big win. Oil prices also had a monumental day, surging on accusations that Iran shot down a U.S. military drone. President Donald Trump initially tweeted that Iran “made a very big mistake,” but later said it may have been unintentional.
Continue reading for more on today's market, including:
- 2 penny stocks expected to double.
- Short sellers circle CarMax stock ahead of earnings.
- This red-hot software stock has cheap options.
- Plus, 2 soaring biotechs; a can't miss GIS signal; and Chewy's options debut.
The Dow Jones Industrial Average (DJI - 26,753.17) gained 294.2 points, or 0.9%, in today's trading. United Technologies (UTX) led the 26 winners with a 2.6% gain, while UnitedHealth (UNH) paced the four losers with a 1% drop.
The S&P 500 Index (SPX - 2,954.18) added 27.7 points, or 1%, after touching an all-time peak of 2,958.06, while the Nasdaq Composite (IXIC - 8,051.34) tacked on 64 points, or 0.8%.
The Cboe Volatility Index (VIX - 14.75) added 0.4 point, or 2.9%.
5 Items on our Radar Today
- The U.S. Senate voted to block military sales to Saudi Arabia today, in a 53-45 vote. However, President Trump vowed to veto the Senate resolution, which garnered bipartisan approval amid concerns about Saudi Arabia's human rights abuses. (Reuters)
- Amazon.com (AMZN) is upping its exposure to college students. The e-commerce giant launched "Off-to-College," a storefront that will focus on dorm items and college supplies. It will also feature special perks for Amazon Prime members. (MarketWatch)
- 2 biotech stocks that scaled the Nasdaq today.
- General Mills stock is flashing "buy" ahead of earnings.
- Chewy options activity was quiet despite its red-hot IPO.
Data courtesy of Trade-Alert
Oil, Gold Log Historic Days
Oil soared today in reaction to the escalating tensions between the U.S. and Iran. By the close and on expiration day, July-dated crude added $2.89, or 5.4%, to end at $56.65 per barrel -- oil's biggest single-session climb since December.
Gold surged today too, as traders reacted to a dovish Fed and a lower dollar. August-delivered gold added $48.10, or 3.6%, to settle at $1,396.90 an ounce. That's the highest close for gold since September 2013, and the biggest one-day gain in three years.