Stocks Bounce Back on Historic Jobs Data

Initial jobless claims fell to their lowest level in over five decades

Digital Content Manager
Mar 24, 2022 at 4:31 PM
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Stocks swung higher on Thursday after a round of historic jobs data, and upbeat durable goods and capital orders helped buoy sentiment on Wall Street. Investors also kept an eye on U.S. President Joe Biden's attendance at three global summits in Brussels, of which, hold the intent to address the crisis in Ukraine. NATO will be expected to ramp up its troop numbers among the eastern flank, while more sanctions, and additional assistance to Ukraine are also being anticipated. The Dow settled 349 points higher, while the S&P 500 notched a more than 1% gain. The Nasdaq saw the biggest win of the day, jumping 1.9% as semiconductor stocks rose. 

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

  • This specialized REIT might be a reliable pick for your portfolio. 
  • The restaurant stock brushing off a disappointing earnings report. 
  • Plus, 4 chip stocks to watch; what's weighing on RBLX; and LOGI gets a bull note.

The Dow Jones Average (DJI - 34,707.94) added 349.4 points, or 1% for the day. Intel (INTC) led the gainers with a 6.9% gain, while Nike (NKE) paced laggards with a 0.7% drop.

The S&P 500 Index (SPX - 4,520.16) added 63.9 points for the day, or 1.4%, while the Nasdaq Composite (IXIC - 14,191.84) rose 269.24 points, or 1.9% in today's session.

Lastly, the Cboe Market Volatility Index (VIX - 21.67) lost 1.9 points, or 8.1% for the day.

Closing Indexes Summary March 24

NYSE and Nasdaq Stats March 24

5 Things To Know Today

  1. U.S. President Joe Biden said that in the case of Russia using chemical or biological warfare against Ukraine, NATO would respond "in kind." (CNBC)
  2. AN2 Therapeutics is set to become public on Friday, and plans to sell 4 million shares at $14 to $16 each. This will mark the second company to go public in March. (MarketWatch)
  3. Keep an eye out for these four semiconductor stocks
  4. Why Roblox stock has lost over 50% in 2022.
  5. Bank of America Securities is calling this software stock a "buy." 

Earnings March 24

Unusual Options Activity March 24

Oil Plummets With New Oil Sanctions off the Table

Oil prices sold off on Thursday after no new oil embargoes were mentioned during one of the latest meetings between world leaders. For the day, April-dated crude lost $2.59 or 2.3%, to settle at $112.34 per barrel, falling from yesterday's two-week highs. 

Gold prices, on the other hand, rose to another two-week high after more U.S. sanctions against Russia were announced. April-dated gold added $24.90 or 1.3%, to settle at $1,962.20 per ounce for today.

 

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