Wall Street Springs Back After Yesterday's Losses

The 10-year Treasury yield rebounded as well

Assistant Editor
Jul 20, 2021 at 4:31 PM
facebook twitter linkedin


Stocks gained momentum today after yesterday's sell-off, which was sparked by Covid-19 fears, with reopening plays rising alongside the energy and bank sectors. The Dow closed 550 points higher today, rebounding from its worst day since October of 2020, while the S&P 500 and Nasdaq bounced back as well. The 10-year Treasury yield, meanwhile, climbed from its five-month lows. Bitcoin, on the other hand, has been excluded from today's broad-market gains, holding below the $30,000 level, which it breached late Monday night.

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

  • Moderna stock in the spotlight after recent rise
  • Options bulls target TRV after upbeat earnings. 
  • Plus, a glance at COLM; bull notes for IBM; and behind HAL's bounce. 

The Dow Jones Average (DJI - 34,511.99) surged 550 points, or 1.6%. Of the 30 Dow components, Boeing (BA) was at the top of the list today and erased yesterday's losses, adding 4.9%, while Merck & Co (MRK) landed at the bottom of the list with an 1.1% drop.

Meanwhile, the S&P 500 Index (SPX - 4,323.06) gained 64.6 points, or 1.5%, and the Nasdaq Composite (IXIC - 14,498.88) tacked on 223.9 points, or 1.6%.

Lastly, the Cboe Volatility Index (VIX - 19.73) snapped its three-day win streak, losing 2.8 points, or 12.3%, for the day.

Closing Indexes Summary July 20

NYSE and Nasdaq Stats July 20

  1. Britain has set a fast pace in the electric vehicle world, banning the sale of new fossil fuel-powered cars by 2030. (Reuters)
  2. Ireland-based fruit and vegetable giant, Dole, is going public on the New York Stock Exchange under the ticker "DOLE." (Marketwatch)
  3. A look at one sportswear retailer ahead of its quarterly report
  4. Blue-chip tech name raking in post-earnings bull notes. 
  5. HAL sees tailwinds from short- and long-term oil rebounds

earningsjuly20

Unusual Options Activity July 20

Oil, Gold Both Rebound

Oil prices rose today, coming back from yesterday's steep 7.5% loss, as investors still weigh the Organization of the Petroleum Exporting Countries and its allies (OPEC+) production boost and the Covid-19 delta variant surge. August-dated crude added  $1, or 1.5%, to end at $67.42 a barrel. The new front-month contract, September-dated crude, gained 85 cents, or 1.2%, to settle at $67.20. 

Gold futures rose after two-straight days of losses. August-dated gold added  $2.20, or 0.1%, to settle at $1,811.40 an ounce.  

Trader: Sell These 8 Stocks in 2021

1633101108

 




 
Special Offers from Schaeffer's Trading Partners