Dow Soars for First Three-Day Win Streak in Nearly Two Months

The Dow is up over 20% in the last three days

Deputy Editor
Mar 26, 2020 at 4:32 PM
facebook twitter linkedin


The Dow picked up its third straight win today, the first time it has done so since Feb. 6. The blue-chip index once more sprinted across the finish-line today and has now gained over 20% in the last three days. The S&P 500 and Nasdaq both finished comfortably in the black as well, shaking off an ugly weekly jobless claims report while traders anxiously awaited the passing of a Senate-approved stimulus package bill aimed to cushion the fallout caused by the coronavirus pandemic. The House of Representatives' decision on the bill is estimated to be made tomorrow morning.

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

  • Slack stock rose as more workers go remote.
  • As earnings loom, bulls are big on Cronos stock.
  • Plus, Micron's earnings beat; Ford announces possible early April re-openings; and Target stock defies price-target cuts.  

The Dow Jones Industrial Average (DJI - 22,552.17) finished 1,351.6 points, or 6.4%, higher for the day. Boeing (BA) topped the four winners again with a 13.8% win, while Dow Inc (DOW) was the only laggard with a 2.3% fall. 

The S&P 500 Index (SPX - 2,630.07) rose 154.5 points, or 6.2%, while the Nasdaq Composite (IXIC - 7,797.54) gained 413.24 points, or 05.6%.

The Cboe Volatility Index (VIX - 61) fell 2.9 points, or 4.6%.

Closing Summary Mar 26

nyse nasdaq mar 26

5 Items on Our Radar Today

  1. The Chinese city of Xianning lifted its two-month lockdown today. However, the city has implemented a rapid detection test before citizens are allowed to travel again. (Reuters)
  2. The Social Security Administration closed offices across the country, but there are still resources available to help recipients claim their benefits. (USA Today)
  3. Micron stock roared to life post-earnings. 
  4. Early April production could bode well for Ford stock.
  5. Price-target cuts didn't deter Target stock.

earnings mar 26

unusual options mar 26

Oil Snaps Win Streak

Oil prices fell after three straight wins, as fears of dwindling demand for black gold rise due to COVID-19 travel bans. April-dated crude futures closed down $1.89, or 7.7%, to settle at $22.60 per barrel.

Gold experienced an exciting surge and jumped to a two-week high after the record number of jobless claims were filed that resulted in the dollar being dented. Gold for April delivery rose $17.80, or 1.1%, to settle at $1,651.20 per ounce.

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners