Schaeffer's 43rd Anniversary Stock Picks in 2024

Dow Snaps 4-Day Win Streak

Gold finished lower for the third straight session

Deputy Editor
Apr 28, 2020 at 4:37 PM
facebook X logo linkedin

The Dow closed down around 30 points after a volatile day of trading, snapping a four-day win streak. The Nasdaq and S&P 500 also closed in the red, after the latter hovered around breakeven. Positivity surrounding states easing lockdown measures and the reopening the U.S. economy appeared dimmed after Dr. Anthony Fauci said opening prematurely could put the country in for "a bad fall." Looking ahead, a fresh dose of high-profile earnings are on the horizon, as well as the conclusion of the Federal Open Market Committee's (FOMC) two-day meeting.

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

  • Bulls eye outperforming chip stock ahead of earnings.
  • Soft drink stock's post-earnings pop. 
  • Plus, one blue chip's mask production buzz; Harley Davidson stock roars higher; and the U.S. airline requiring passengers to wear masks. 

The Dow Jones Industrial Average (DJI - 24,101.55) fell 32.2 points, or 0.1%. Dow (DOW) topped the charts with a 4.1% win, while Merck (MRK) finished at the bottom with a 3.3% loss.

The S&P 500 Index (SPX - 2,863.39) lost 15.1 points, or 0.5% for the day, while the Nasdaq Composite (IXIC - 8,607.73) fell 122.4 points, or 1.4% for the day.

The Cboe Volatility Index (VIX - 33.57) gained 0.3 point, or 0.8% for the day.

Closing Indexes Summary April 28

NYSE and Nasdaq Stats April 28

5 Items on Our Radar Today

  1. New York Gov. Andrew Cuomo outlined a 12-step plan in order to reopen New York amid coronavirus. Manufacturing and construction jobs will be the first businesses to return. (CNBC)
  2. U.S. President Donald Trump plans to use the Defense Production Act to order meat-processing plants to stay open. The White House started making moves when it appeared that a majority of meat production capacity was shutting down. (Bloomberg)
  3. 3M stock pops on earnings beat. 
  4. This motorcycle giant just broke above former resistance.
  5. Airliner on the rise after revealing face-covering mandate.

Earnings April 28

Unusual Options Activity April 28

Data courtesy of Trade-Alert

Oil, Gold Finish Lower

Oil futures fell modestly in today's session, as focus shifted to reports of an oil tanker explosion in Syria. June-dated crude fell 44 cents, or 3.4%, to settle at $12.34 a barrel. 

Gold futures finished lower today for the third straight session, though further losses were pared by dismal economic data on U.S. consumer confidence. Gold for June delivery fell $1.60, or 0.09%, to settle at $1,722.20 an ounce.


A.I.’s Dirty Little Secret: The Real Power Behind The AI. Boom ✨

Anyone who’s seen the The Matrix movies knows that A.I. needs power.  Lots and lots of power.

If you’ve seen the movie, you also know the grizzly results of the ensuing battle for that power.

Now, Wall Street’s battle for A.I. power won’t go to such extremes. Hopefully?

A.I. needs more power and that means more opportunities for stock traders in the know.

Download your free copy of “The A.I. Revolution: 4 Stocks to Buy Now”!