U.S. Stocks End Day, Week in the Black

Gold fell for its third straight session

Deputy Editor
Apr 17, 2020 at 4:40 PM
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The Dow extended its midday rally to end both the day and week higher thanks to a life out of Boeing (BA). However, it did pare earlier gains due to underperforming Apple (AAPL) and Amazon.com (AMZN). The Nasdaq and S&P 500 also ended the day and week in the black, boosted by optimism over Gilead Sciences' (GILD) potential coronavirus treatment. Looking ahead, next week will be earnings-filled, with blue chips Coca-Cola (KO) and American Express (AXP) among the many slated to report.

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

  • Call traders chase Boeing stock.
  • MRNA stock soars on million-dollar aid.
  • Plus, this blue-chip's big move before earnings; Gilead makes headlines on COVID-19 treatment; and Region Financial's earnings blunder.

The Dow Jones Industrial Average (DJI - 24,242.49) rose 704.8 points, or 3% for the day. In opposite positions from yesterday, Boeing (BA) topped the charts with a 14.7% win, while UnitedHealth (UNH) finished at the bottom with a 2.6% loss. The Dow logged its second week of gains, up 2.2%.

The S&P 500 Index (SPX - 2,874.56) added 75 points, or 2.7% for the day; up 3% for the week. Meanwhile, the Nasdaq Composite (IXIC - 8,650.14) tacked on 117.8 points, or 1.4% for the day, and finished up 6% for the week.

The Cboe Volatility Index (VIX - 38.15) shed 2 points, or 4.9% for the day, down 8.4% for the week. 

Closing Indexes Summary April 17

NYSE and Nasdaq Stats April 17

5 Items on Our Radar Today

  1. After the government's small business loan program of nearly $350 billion ran out of funds on April 16, many are awaiting for clarity and loans to keep their businesses afloat. (CNBC)
  2. A group of democratic senators announced that U.S. airline companies could be sitting on more than $10 billion owed to passengers. By Federal law, passengers are entitled to refunds for canceled flights. (Reuters)
  3. IBM just attempted a pre-earnings rebound. 
  4. The spotlight landed on Gilead Sciences for its COVID-19 treatment.
  5. How Regions Financial brushed off disappointing earnings.

Earnings April 17

Unusual Options Activity April 17

Data courtesy of Trade-Alert

Gold, Oil Finish Week with Losses

Oil futures once again dropped, remaining at their lowest mark in over 18 years. May-dated futures fell $1.60, or 8.1%, to settle at $18.27 a barrel. For the week, oil prices are down 19.7%. 

Gold futures ended lower today, for a third straight session. Gold for June delivery dropped $32.90, or 1.9%, to settle at $1,698.80 per ounce. For the week, gold futures finished down 3.1%. 

 

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