Nasdaq Scores Triple-Digit Gain as Recession Fears Ease

Investors targeted FAANG stocks as tech surged

Deputy Editor
Apr 4, 2022 at 4:32 PM
facebook X logo linkedin


Wall Street started the week on a positive note, with the Dow and S&P 500 finishing higher. However, the big winner of the day was the Nasdaq, which scored a 271-point gain as investors targeted beaten-down tech. Twitter (TWTR) stock's soaring price action gave the tech-heavy index a lift as well. FAANG stocks in particular climbed, even as the yield curve of the 2- and 10-year Treasury yields remains inverted. Meanwhile, U.S. factory orders fell for the first time in 10 months, losing 0.5% in February, though investors expected a 0.6% drop.

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

  • The best blue-chip stock for options bulls this month. 
  • Options traders flock to First Solar stock. 
  • Plus, HTZ lifted on EV news; JD and BABA see regulatory tailwinds; and CROX downgraded.

The Dow Jones Average (DJI - 34,921.88) added 103.6 points, or 0.3% for the day. Salesforce.com (CRM) led the gainers with a 3.1% pop, while Travelers Companies (TRV) dropped to the bottom of the index with a 1.9% loss. 

The S&P 500 Index (SPX - 4,582.64) rose 36.8, or 0.8% points for the day, while the Nasdaq Composite (IXIC - 14,532.55) added 271 points, or 1.9% in today's session.

Lastly, the Cboe Market Volatility Index (VIX - 18.57) lost 1.1 point, or 5.4% for the day.

Summary 0404

NYSE Nasdaq 0404

5 Things To Know Today

  1. The latest Russian oligarch to be hit by U.S. sanctions, Viktor Vekselberg was accused by U.S. authorities of conspiring to commit bank fraud and money laundering. His superyacht was subsequently seized in Spain. (CNBC)
  2. According to data released today, U.S. coal prices broke above $100 for the first time since 2008. Internationally trading areas Central Appalachia and the Illinois Basin are seeing the highest surge in prices. (Bloomberg)
  3. Hertz stock is in the spotlight after a big EV deal. 
  4. Why these 2 China-based stocks got a boost today.
  5. Analyst says sentiment is souring for this retailer. 

No earnings of note today.

UVOL 0404

Oil Reclaims $100

After logging their worst week since April of 2020, oil prices settled higher today, with May-dated crude adding $4.01, or 4%, to settle at $103.28 a barrel -- back above the psychologically-significant $100 level. Talks of further sanctions against Russia bolstered the commodity today. 

Amid lingering inflation concerns, gold futures inched higher today as well, following a 1.6% weekly loss. June-dated gold rose $10.30, or 0.5%, to settle at $1,934 an ounce.  

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI