Tech Lifts Nasdaq, SPX Hits Another Record Close

Plus, mortgage rates fell for the first time in seven weeks

Deputy Editor
Apr 8, 2021 at 4:36 PM
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The Dow closed 57 points higher today, while the Nasdaq enjoyed triple-digit gains as big tech stocks rallied, and the S&P 500 notched another record close. Investors unpacked worse-than-expected jobs data for the second week running, with jobless claims for last week coming in at 744,000 -- higher than the anticipated 694,000. Meanwhile, U.S. mortgage rates fell for the first time in over a month, with the average 30-year loan reading dropping to 3.13% from 3.18% for the week prior -- driven by the steadily declining bond yields.   

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

  • Disappointing guidance weighs on beverage giant.  
  • Analysts chime in on USB as it trades near annual high. 
  • Plus, a chip stock worth a closer look; CAG's earnings report; and the wellness name seeing analyst attention.  

The Dow Jones Industrial Average (DJI - 33,503.57) added 57.3 points today, or 0.2%. Apple (AAPL) topped the list of blue chips with a 1.9% pop, while Nike (NKE) sunk to the bottom after shedding 2.1%. 

Meanwhile, the S&P 500 Index (SPX - 4,097.17) gained 17.2 points, or 0.4%, and the Nasdaq Composite (IXIC - 13,829.31) tacked on 140.5 points, or 1% for the day.

Lastly, the Cboe Volatility Index (VIX - 16.95) lost 0.2 point, or 1.2%, today. 

Closing Indexes Summary April 8

NYSE and Nasdaq Stats April 8

  1. The demand for luxury cars has showed no signs of slowing. See what company had its best quarter in its 116-year history. (CNBC)
  2. U.S. President Joe Biden has announced steps to tackle gun violence. One of the new measures includes cracking down on "ghost guns," which effectively turn pistols into rifles. (Reuters)
  3. The often-overlooked chip-maker with impressive gains
  4. The food name slipping despite an upbeat earnings report. 
  5. Plenty of pessimism surrounds this outperforming wellness stock

Earnings April 8

Unusual Options Activity April 8

Gold Logs Highest Close Since Late February

Oil prices closed lower today, as rising global Covid-19 cases hint at a potential lack of demand, and the U.S.-Iran nuclear deal remains stagnant. May-dated crude fell 17 cents, or 0.3%, to settle at $59.60 a barrel. 

Gold futures scored a six-week high today, one day after snapping a four-session win streak. Prices were boosted after the Federal Open Market Committee (FOMC) minutes, which came out right after gold's close yesterday. June-dated gold climbed an impressive $16.60, or 1%, to settle at $1,758.20 an ounce.  

 

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