Dow Stages Impressive Rebound, Closes with Triple-Digit Gain

The Nasdaq also enjoyed a boost from the tech sector

Deputy Editor
Apr 25, 2022 at 4:31 PM
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Despite being down 487 points at its session lows, the Dow bounced back to secure a triple-digit win. The Nasdaq closed comfortably higher as well, as the tech sector rebounded amid falling interest rates, while the S&P 500 struggled for direction before posting a modest gain. Wall Street shifted quite a bit of focus overseas today, after the selloff throughout Asian markets highlighted the lockdowns in China. Twitter (TWTR) remained a hot topic as well, after news that the social media giant accepted Elon Musk's takeover offer. 

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

  • Gold stock a good pick for options bulls. 
  • Negative news pressured Exxon Mobile ahead of its report. 
  • Plus, KO's post-earnings pop; K downgraded; and NKTX's stellar day.

The Dow Jones Average (DJI - 34,049.46) rose 238.1 points, or 0.7%. Johnson & Johnson (JNJ) topped the list of Dow members with a 2.5% rise, while Verizon (VZ) sank to the bottom after shedding 3.1%.

The S&P 500 Index (SPX - 4,296.12) added 24.3 points, or 0.6%, while the Nasdaq Composite (IXIC - 13,004.85) climbed 165.6 points, or 1.3%.

Lastly, the Cboe Market Volatility Index (VIX - 27.02) fell 1.2 points, or 4.2%.  

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5 Things To Know Today

  1. SpaceX's Crew Dragon spacecraft returned safely to earth with the private crew of Axiom Space’s Ax-1 mission today.  (CNBC)
  2. Facebook parent Meta (META) is opening a retail store on May 9, and adding an online store to its website, giving a "glimpse into the future as the Metaverse comes to life." (MarketWatch)
  3. Coca-Cola stock hit a record high today. 
  4. Breaking down Kellogg's bear note from Deutsche Bank. 
  5. Why Nkarta stock skyrocketed from last session's lows. 

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Gold Falls to 2-Month Low

Oil prices fell for the day, securing the front-month contract's lowest finish in two weeks, as China's lockdowns weighed on the commodity. June-dated West Texas Intermediate (WTI) crude shed  $3.53, or 3.5%, to settle at $98.54 a barrel.

Gold futures fell for the fifth-straight session, marking the lowest settlement for a front-month contract since Feb. 25. June-dated gold dropped $38.30, or 2%, to settle at $1,896 an ounce as the U.S. dollar rose.  

 

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