Inflation Buzz Sends Dow, Tech-Heavy Nasdaq to Triple-Digit Wins

Gold grabs second-highest close on record

Managing Editor
Apr 13, 2023 at 4:26 PM
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Big Tech brought a welcome surge to the broader market today, with all three major indexes logging healthy gains. Both the Dow and tech-heavy Nasdaq locked in triple-digit wins, the latter snapping a three-day losing streak and the former hitting its highest settlement since Feb. 15. The S&P 500 also nabbed its highest close since February, and the market's "fear gauge," or Cboe Volatility Index (VIX), fell to a multi-month low. Driving investors today was better-than-expected March producer price index (PPI) data, which came in at a 0.5% month-on-month decline.

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

  • 3 stocks that made outsized moves today.
  • How Tax Day impacts options trading.
  • Plus, retailer nears historically bearish trendline; HOG's c-suite news; and a supply company slipping.

Closing Indexes Summary April 13

NYSE and Nasdaq Stats April 13

 Things to Know Today 

  1. Officials working the case on the leaked Pentagon documents arrested 21-year-old Jack Teixeira, an Air National Guardsman that allegedly committed the largest U.S. intelligence leak since Edward Snowden.  (NBC)
  2. Rent in Manhattan, N.Y. has hit its highest mark to date, with the median cost reaching $4,175 for March. (Bloomberg)
  3. Wayfair stock bucked by bearish trendline.
  4. CFO exit sent Harley-Davidson stock sinking.
  5. Fastenal stock stalls out on new pressures.

Corporate Earnings April 13

Unusual Options Activity April 13

Gold Snags 2nd-Highest Close on Record

Crude shifted lower, though investor sentiment remained stagnant. For the session, May-dated crude shed $1.10, or 1.3%, to close at $82.16 per barrel.

Gold futures enjoyed a healthy surge Thursday, as the U.S. dollar weakened and Fed rate concerns lingered. June-dated gold gained $30.40 or 1.5%, to settle at $2,055.30 an ounce -- its highest close since August 2020, or second-highest on record.

 

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