Dow Roars to Life With Best Day Since 1933

All three indexes logged wins of 8% or more

Deputy Editor
Mar 24, 2020 at 4:33 PM
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The Dow experienced a much-needed surge today, logging its best percentage gain since 1933. The blue-chip index surged toward the finish line today, as all signs point to a historic stimulus bill near agreement that would help buoy a floundering U.S. economy. The S&P 500 and Nasdaq both joined the Dow with big gains of more than 8%, as stocks rebounded from three-year lows yesterday.

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

  • Spotify stock was upgraded, and options traders piled on.
  • This Chinese e-commerce stock has a bleak technical setup.
  • Plus, Amazon.com tackled price gouging measures; INFO's big day; and Twitter stock ignores bear note. 

The Dow Jones Industrial Average (DJI - 20,704.91) finished 2,113 points, or 11.4%, higher for the day. Chevron (CVX) led the four winners with a 23.42% win, while Verizon (VZ) finished last of the 26 laggards with a .66% fall. 

The S&P 500 Index (SPX - 2,447.33) gained 209.9 points, or 9.4%, while the Nasdaq Composite (IXIC - 7,417.86) rose 557.2 points, or 8.1%.

The Cboe Volatility Index (VIX - 61.67) gained 0.1 points, or 0.1%.

closing summary mar 24

nyse nasdaq mar 24

5 Items on Our Radar Today

  1. The U.S. services and manufacturing sectors contracted sharply in March, as the flash U.S. services purchasing managers index (PMI) hit to a record low of 39.1. This reflects business operations grinding to a halt as the COVID-19 outbreak continues to weigh on economic growth. (CNBC)
  2.  Major U.S. airlines are drafting plans for the potential voluntary shutdown of all domestic flights. No final decisions have been made, but airlines continue to struggle to keep aircrafts flying with minimal passengers. (MarketWatch)
  3. Amazon.com cracked down on price gougers.
  4. This information services company scored a big earnings beat.
  5. Twitter stock overcame a lot of headwinds today.

Earnings Mar 24

unusual options mar 24

Gold Logs Best Day Since 2009

Oil turned in another win today, as investors anticipate a massive $2 trillion COVID-19 aid package that will hopefully support oil demand. April-dated crude rose 65 cents, or 2.8%, to settle at $24.01 per barrel.

Gold for April delivery popped $93.20, or 6%, to settle at $1,660.80 per ounce, its largest percentage gain since March 2009..The rise for the precious metal comes as the dollar falls in the wake of the Fed unveiling unprecedented programs yesterday to help give the economy a shot in the arm


 

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