Dow Snaps 4-Day Win Streak as Trading Turns Shaky

The S&P 500 and Nasdaq also logged sizeable losses

Digital Content Manager
Mar 30, 2022 at 4:28 PM
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The situation between Ukraine and Russia remains shaky to say the least, with hopes of a potential deal between the two countries dashed after Russia continued its attacks on Ukraine, despite promises to ease up military activity near the capital. The move had oil prices and energy stocks surging, but put a damper on the equities market, sending the Dow down 65 points to its first daily drop in five sessions. The S&P 500 also logged a notable loss, while the Nasdaq shed more than 1%, as the semiconductor sector showed weakness.  

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

  • The bearish signal that could cut AMC's rally short. 
  • Railroad stock chugging higher after a $10 billion buyback announcement
  • Plus, a look at PEP's rebound; CHWY blasted with post-earnings bear notes; and a few simple trading strategies for investors.

The Dow Jones Average (DJI - 35,228.81) lost 65.4 points, or 0.2% for the day. UnitedHealth Group (UNH) led the gainers with a 2% gain, while Home Depot (HD) paced laggards with a 2.9% drop.

The S&P 500 Index (SPX - 4,602.45) shed 29.2 points for the day, or 0.6%, while the Nasdaq Composite (IXIC - 14,442.28) fell 177.4 points, or 1.2% in today's session.

Lastly, the Cboe Market Volatility Index (VIX - 19.33) added 0.4 point, or 2.3% for the day, snapping a four-day win streak.

Closing Indexes Summary March 30

NYSE and Nasdaq Stats March 30

5 Things To Know Today

  1. The U.S. sent Ukraine 100 killer drones as part of an arms package, after the country requested equipment to combat Russia's invasion. (CNBC)
  2. The U.S. Securities and Exchange Commission (SEC) is attempting to crack down companies using Special Purpose Acquisition Companies (SPAC) as a means to take private companies public, voting 3-1 to propose a new set of rules that would strip the SPAC of its advantages. (MarketWatch)
  3. How to play PepsiCo stock's recent rebound
  4. Checking in on Chewy stock after a dismal earnings report. 
  5. Brush up on some simple trading tips with Schaeffer's Investment Research's Senior Options Strategist. 

Earnings March 30

Unusual Options Activity March 30

Gold Snaps Losing Streak

Russia going back on its promises to ease up military action around Ukraine's capital sent oil prices higher on Wednesday. May oil rose $3.58 or 3.4%, to settle at $107.82.

Gold prices snapped their three-day losing streak as investors cycled out of equities and back into the haven commodity amid renewed uncertainties over the future of the conflict between Ukraine and Russia. The now most active, June-dated gold contract rose $21 or 1.1%, to close at $1,939.00 per ounce .

 

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