VIX Logs Longest Losing Streak Since March 2021

Oil soared above the $80 level

Managing Editor
Apr 3, 2023 at 4:26 PM
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The major indexes ended their first session of the second quarter mixed, with the Dow closing up triple digits and the S&P 500 marking a modest win of its own. This came as investors looked for direction following OPEC+'s 1.16 million barrel daily oil output cut, helping the commodity surge to its largest daily gain in nearly a year. Meanwhile, the Nasdaq moved lower, while Wall Street's "fear gauge," the Cboe Volatility Index (VIX), logged its seventh-straight loss -- its longest such streak since March 2021.

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

Closing Indexes Summary April 3

NYSE and Nasdaq Stats April 3

5 Things to Know Today 

  1. What to expect ahead of the Tuesday arraignment for recently indicted former U.S. President Donald Trump. (MarketWatch)
  2. Walt Disney (DIS) CEO Bob Iger is firing back at Florida Governor Ron DeSantis after the politician criticized the company's handling of the Reedy Creek district agreement. (CNBC)
  3. 3 oil stocks surging amid OPEC+ buzz.
  4. Analyst downgrade drags payment stock.
  5. Brokerage: why you should bag Macy's stock now.

There were no earnings of note today.

Unusual Options Activity April 3

Oil, Gold Log Healthy Wins

Oil futures ended the day significantly higher, as investors continued to digest OPEC's+ surprise cut. May-dated crude added $4.75, or 6.3%, to close at $80.42 per barrel for the session.

Gold managed to climb in Monday's session, as the U.S. dollar retreated in intraday trading and OPEC's+ decision reignited inflation fears. June-dated gold added $14.20 or 0.7%, to settle at $2,000.40.

 

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