AAL

Dow Recovers With 150-Point Win

The Fed's decision to buy individual corporate bonds strengthened investor sentiment

Deputy Editor
Jun 15, 2020 at 4:31 PM
facebook X logo linkedin


The Dow recuperated from this morning's 700-point decline, slowly rising to end with a 150-point win, despite renewed fears surrounding a spike in COVID-19 cases. The S&P 500 and the Nasdaq also clawed their way to modest daily wins on a Federal Reserve announcement that it would buy individual corporate bonds. A similar announcement helped dig markets out of their March trough as well. Today's update extends on this program, indicating the central bank's continued support of credit markets.

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

The Dow Jones Industrial Average (DJI - 25,763.16) tacked on 157.6 points, or 0.6% for the day. Raytheon Technologies (RTX) lead the charge, rising 2.6%, while Merck & Co (MRK) paced the losers after it fell 3%.

Meanwhile, the S&P 500 Index (SPX - 3,066.59) rose 25.3 points, or 0.8%, and the Nasdaq Composite (IXIC - 9,726.02) added 137.2 points, or 1.4%. 

Meanwhile, the Cboe Volatility Index (VIX - 34.40) fell 1.7 points, or 4.7%, for the day.

Closing Summary June 15

NYSE Nasdaq June 15

5 Items on Our Radar Today

  1. The Empire State Manufacturing index saw a surprising rebound this month, rising to -0.2 in June against economists' expected reading of -35. Meanwhile, the index of future business conditions rose to 56.5, marking its highest level in nearly 11 years. (CNBC)
  2. Dallas Fed President Robert Kaplan in a Money Marketeers of New York talk today stated he is skeptical of the Federal Reserve using "yield-curve control" as a tactic to help economic recovery from the recession. (MarketWatch)
  3. Nokia stock slid on its latest 5G deal.
  4. A vaccine manufacturing deal is doing wonders for this pharmaceutical stock.
  5. Intel stock was upgraded to "overweight" amid big technological advancements.

There are no earnings to report today

Unusual Options Activity June 15

Data courtesy of Trade-Alert

OPEC Production Cut Compliance Fuels Oil Rebound

Oil prices also managed to recover by the close, fueled by Organization of the Petroleum Exporting Countries (OPEC) members' compliance with a production cut deal, despite the renewed COVID-19 fears. Today, July-dated crude rose 86 cents, or 3%, to settle at $37.12 per barrel.

Gold, meanwhile, finished lower, even as the U.S. dollar softened. Gold for August delivery fell $10.10, or 0.6%, to settle at $1,727.20 per ounce on the day.


 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.