Nasdaq Nabs Eighth Win, Record High

Apple recorded a new record-high close to help the Dow rise

Assistant Editor
Jun 23, 2020 at 4:30 PM
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After hitting a record intraday high, the Nasdaq finished up nearly 75 points, locking in its eighth straight daily win -- for the first time since December. Meanwhile, the Dow was once again bolstered by a rise from FAANG names. Most notably, Apple (AAPL) gained over 2%, hitting a record peak of its own after unveiling a new operating system at the Worldwide Developers Conference (WWDC). In other news, the S&P 500 rose as well, now up over 40% from its March 23 intraday low, as investors remained optimistic regarding the U.S.-China trade deal. 

The Dow Jones Industrial Average (DJI - 26,156.10) added 131.1 points, or 0.5% for the day. Nike (NKE) rose to the top today, finishing 2.4% higher. Meanwhile, IBM (IBM) lagged the list, closing the day 1.4% lower.

Meanwhile, the S&P 500 Index (SPX - 3,131.29) dropped 13.4 points, or 0.4%, and the Nasdaq Composite (IXIC - 10,131.37) added 74.9 points, or 0.7%.

Meanwhile, the Cboe Volatility Index (VIX - 31.37) lost 0.4 points, or 1.3%, for the day.

Closing Summary June 23

NYSE Nasdaq June 23

5 Items on Our Radar Today

  1. According to St. Louis Fed President James Bullard, the debt companies are taking on in order to survive the pandemic isn't a surefire signal that an asset bubble is forming. (MarketWatch)
  2. New U.S. single-family home sales came in better than expected last month, signaling the housing market's prepping for recovery after suffering at the hands of the coronavirus pandemic. (Reuters)
  3. BlackRock's CEO announced the company's commitment to increase its Black workforce.
  4. One analyst just dealt a harsh hand to MU.
  5. Salesforce.com stock is inching toward record highs.

Earnings June 23

Unusual Options Activity June 23

Data courtesy of Trade-Alert

Gold Surges to Seven-Year High

Oil fell in today's session after hovering near its early-March highs. Black gold's tumble today was fueled by U.S. President Donald Trump's attempts to qualm jitters surrounding the U.S.-China trade agreement. As a result, August-dated crude lost 36 cents, or 0.8%, to settle at $40.37 per barrel for the day.

Gold price surged for a third-consecutive day, rising to their highest point since October 2012 thanks to a weakness in the U.S. dollar as well as stimulus packages dished out by multiple central banks. Gold for August delivery added $15.60, or 0.8%, to settle at $1,782 per ounce on the day.


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