ELECT 24 Top Ad

Stock Market Finishes Holiday-Shortened Week Higher

Gold finished with historic highs

Deputy Editor
Apr 9, 2020 at 4:42 PM
facebook X logo linkedin


The Dow finished the last day of the holiday-shorted week up over 280 points, losing some of its midday rally after Democrats in congress blocked McConnell's bid to unanimously add $250 billion in small-business aid. However,  the Fed announced new programs directed at small and medium-sized business, totaling up to $2.3 trillion. This news was enough to outweigh the increasing unemployment rates for now, as the Nasdaq and S&P 500 enjoyed sizable gains, finishing the day and week deep in the black. 

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

  • Stitch Fix stock leaps on strong product demand.
  • BLK stock makes moves on Microsoft deal.
  • Plus, Zoom stock rises despite Senate pressure; COST drops on bear note; and an analyst burns Anthem stock.

The Dow Jones Industrial Average (DJI - 23,719.37) rose 285.8 points, or 1.2% higher for the day. J.P. Morgan Chase (JPM) topped the charts with an 9% win, while Intel (INTC) finished at the bottom with a 3.1% loss. For the week, the blue-chip added 12.7%

The S&P 500 Index (SPX - 2,789.82) gained 39.8 points, or 1.5%, while the Nasdaq Composite (IXIC - 8,153.58) tacked on 62.7, or 0.8% for the day. For the week, the indexes tacked on 12.1% and 10.5%, respectively.

The Cboe Volatility Index (VIX - 41.67) fell 1.7 points, or 3.9%. The VIX fell 11% for the week.

Closing Indexes Summary April 9

NYSE and Nasdaq Stats April 9

5 Items on Our Radar Today

  1. National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci said the White House task force built to handle the impact of coronavirus was working on a balance between public health and allowing people to get back to some mark of normality(MarketWatch)
  2. Following a surge in job losses and mandatory social distancing, a preliminary reading shows the consumer sentiment index dropping from 89.1 to 71 in early April. This would mark a historical one-month decline and nine-year low. (MarketWatch)
  3. Zoom stock shakes off Senate warning.
  4. Bulk retailer suffers analyst slam.
  5. Anthem stock earns a downgrade despite yesterday's pop. 

There were no earnings of note today.

Unusual Options Activity April 9

Data courtesy of Trade-Alert

Gold Lands 7-Year High

Oil prices dropped, erasing an earlier gain over 12%, as Wall Street waits on details from the Organization of the Petroleum Exporting Countries + (OPEC+) meeting, specifically a decision on production cuts. May-dated futures fell $2.3, or 9.3%, to settle at $22.76 a barrel for the day, and down 19.7% for the week.

Gold ended with the highest finish for a most-active contract since October 2012, following the reveal of multiple stimulus plans, of which, sent the dollar lower. Gold for June delivery rose $68.50, or 4.1%, to settle at $1,752.80 per ounce. For the week, gold futures rose about 7%. 

 

Biden’s government just announced a new government "stimulus program"...

And it could hand you a payment for as much as $7,882 — each quarter.

See, it has to do with a recent 19-page memo from Biden’s office...

Directing the government to once again send a form of "stimulus payments" to the mailboxes of Americans during these difficult times.

Better still, you can collect these payouts every single quarter — for life...

Payments run as high as $7,882... And it only takes five minutes to sign up.

I call this the "Stimulus Stipends" program…

And Forbes recently declared that you can "retire rich" thanks to this program.

So if you want to start cashing in your quarterly payouts — courtesy of the U.S government...

Discover how to receive your FIRST "Stimulus Stipends" payment for up to $7,882 here. 
 (ad)
 

election 2024 report

                                                  AD                                                  
best AI trade you can make today…?
(it’s not MSFT, GOOGL, AMZN or AAPL)

                                                  AD                                                  

 
 

VOLATILITY SCORECARD

 


                                               AD                                                    
Crazy Opportunity!! Tiny AI Stock just $3
“This Type of AI Will Be Worth “Ten MSFTs.”

                                               AD                                                    

 
4 AI STOCKS TO BUY NOW
 

                                                  AD                                                  
best AI trade you can make today…?
(it’s not MSFT, GOOGL, AMZN or AAPL)

                                                  AD