Dow Snags Strong Start to May

Gold prices snapped a four-session losing streak

Deputy Editor
May 3, 2021 at 4:31 PM
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The Dow started the month out strong today, closing with an 238-point pop. The S&P 500 Index finished in the black as well, while the Nasdaq suffered a minor loss. Investor sentiment is mostly positive and pointed toward reopening optimism today, with states continuing to lift Covid-19 restrictions and several major companies announcing strong growth. There is some mixed U.S. manufacturing data to sift through for April as well.  

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

  • Options traders target volatile crypto stock
  • Oil name boosted on heels of analyst praise. 
  • Plus, ALL hits record high; the sports betting name upgraded; and behind this NIO bull note.

The Dow Jones Industrial Average (DJI - 34,113.23) added 238.4 points, or 0.7%, for the day. Dow (DOW) topped the list of gainers today with a 3.3% win, while Salesforce.com (CRM) landed at the bottom after dropping 2.8%. 

The S&P 500 Index (SPX - 4,192.66) gained 11.5 points, or 0.3%, while the Nasdaq Composite (IXIC - 13,895.12) fell 67.6 points, or 0.5%.

Lastly, the Cboe Volatility Index (VIX - 18.31) lost 0.3 point, or 1.6% for the day.

Closing Indexes Summary May 3

NYSE and Nasdaq Stats May 3

  1. Microsoft is picking a new default font after 14 years. Here is what the creator of the current font, Calibri, has to say. (CNBC)
  2. New York City is easing Covid-19 restrictions, and the city's subway will return to its 24-hour service in mid-May. (Marketwatch)
  3. Insurance name hit a fresh peak ahead of earnings. 
  4. Analyst praises DKNG as sports betting legalizations continue. 
  5. Delivery surge lifts this electric vehicle maker

There were no earnings of note today.

Unusual Options Activity May 3

Oil, Gold Start Month Strong After April Gains

Oil prices rose today, building off April's 7.5% gain, as the reopening economy continues to point toward stronger demand. June-dated crude gained 91 cents, or 1.4%, to settle at $64.49 a barrel.

Gold futures finished higher today to snap a four-session losing streak, as bond yields/inflation concerns ease. June-dated gold rose $24.10, or 1.4%, to settle at $1,791.80 an ounce.  

 

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