The Dow closed up over 500 points
The Dow extended its midday rally, finishing the day up over 500 points as blue-chip stocks reported better-than-expected earnings, and sentiment surrounding coronavirus improved. The S&P 500 and tech-heavy Nasdaq also finished the day confidently in the black, with the Nasdaq scoring its fourth straight win.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 23,949.76) rose 559 points, or 2.4% higher for the day. Raytheon Technologies (RTX) topped the charts with an 5.2% win, while Boeing (BA) finished at the bottom with a 4.3% loss.
The S&P 500 Index (SPX - 2,846.06) rose 84.4 points, or 3.1%, while the Nasdaq Composite (IXIC - 8,515.74) tacked on 323.3, or 4% for the day.
The Cboe Volatility Index (VIX - 37.76) fell 3.4 points, or 8.3%.
5 Items on Our Radar Today
- Similar to Google showing trends via Google Maps, Apple is gathering anonymous data from Apple Maps to see how well people are following social distancing guidelines and has launched a new tool to show it. (CNBC)
- With 75% of the nation's rooms empty, hotels are in hot water. Less than three weeks after Trump signed the stimulus package, the industry is lobbying for changes. (Washington Post)
- Bulls back BTI stock.
- Johnson & Johnson stock jumped on an earnings beat.
- Analysts lean pessimistic on NWSA stock.
Data courtesy of Trade-Alert
Oil Falls as Gold Grabs More Gains
Oil prices fell to their lowest settlement in about two weeks as the lack of demand weighed heavy next to an oversupply. May-dated futures fell $2.30, or 10.3%, to settle at $20.11 a barrel.
After briefly turning negative, Gold futures climbed for a fourth straight session, pushed higher by a drop in the U.S. dollar. Gold for June delivery rose $7.50, or 0.4%, to settle at $1,768.90 per ounce, its highest settlement since late 2012.