Big Tech Helps Push Stocks into the Black

The Dow pared a 250-point deficit from earlier

Digital Content Manager
May 4, 2020 at 4:32 PM
facebook X logo linkedin


The Dow pared a 250-point deficit at its session lows to finish marginally higher in the final minutes of trading. The S&P 500 and Nasdaq also clawed their way into the black, brushing off anxieties over newly bubbling tensions between the U.S. and China, as well as a dismal day for the airline sector. Big tech appears to have saved the day, with Amazon (AMZN), Microsoft (MSFT), and Netflix (NFLX) all notching gains of over 1%.

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

  • Options bears blasted these 2 airline stocks after the sector selloff. 
  • The biotech for bulls this summer. 
  • Plus, another look at Warren Buffet's big announcement; UBER runs into even more trouble, and Constellation Brands ups stake on Canopy Growth. 

The Dow Jones Industrial Average (DJI - 23,749.76) added 26.1 points, or 0.1% for the day, with Microsoft (MSFT) leading the blue-chip index with a 2% pop, and Raytheon Technologies (RTX) dropping to the bottom on a 3.7% loss. 

The S&P 500 Index (SPX - 2,842.74) tacked on 12 points, or 0.4% for the day. Meanwhile, the Nasdaq Composite (IXIC - 8,710.72) ended up 105.8 points, or 1.2% higher.

The Cboe Volatility Index (VIX - 35.97) lost 1.2 point, or 3.3% on Monday.

closing summary may 4 2020

nyse nasdaq may 4 2020

5 Items on Our Radar Today

  1. Real estate company Zillow (ZG) just forecast a 2-3% drop in U.S. home prices, as well as a steep and speedy 50-60% decline in home sales for the year. The company thinks sales will bottom by the end of this spring and then slowly recover at a clip of 10% a month through next year. (CNBC)
  2. Live golf will be back on television in a little less than two weeks, as Rory Mcllroy Dustin Johnson, Rickie Fowler, and Matthew Wolf return to the green for a $3 million charity skins match for COVID-19 relief. UnitedHealth Group (UNH) said it will back the multi-million dollar donation. (MarketWatch)
  3. A look at Berkshire Hathaway stock prior to the company's big decision.  
  4. The legal troubles driving Uber stock even lower. 
  5. This pot stock is soaring after a "financially sensible" deal. 

Earnings May 4 20

unusual options may 4 20

Data courtesy of Trade-Alert

Oil, Gold Gain Again

Oil futures notched their third consecutive gain, as producers in the U.S., Canada, and Norway begin voluntarily cutting production at a surprisingly rapid rate. June-dated crude rose 61 cents, or 3.1%, to settle back atop the $20 level at $20.39 a barrel.

Gold futures are also climbing higher, grabbing their second straight win as fresh U.S.-China tensions had traders turning back toward the safe haven asset. Gold for June delivery rose $12.40, or 0.7%, to settle at $1,713.30 an ounce.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI