The "fear gauge" logged a sixth consecutive daily drop
Wall Street marked another session of choppy trading with a mixed finish, while the market's "fear gauge," the Cboe Volatility Index (VIX), logged a sixth-straight daily loss and lowest level since November 2021. This week's mixed earnings processional and lack of company forecasts spiraled investors toward more Fed fears, with interest rates expected to rise within in the next few weeks.
Continue reading for more on today's market, including:
- Behind the Netflix stock's post-earnings slide.
- How VIX & SPX moves could impact options trading.
- Plus, "Best Idea" bank stock; 4 cannabis names to watch; and the latest big bank bull note.
Things to Know Today
- Facebook parent Meta (META) started cutting more jobs in its 21,000 employee layoff plan, with focus on the technical employee sector. (CNBC)
- Microsoft (MSFT) agreed to invest $50 million in southeastern Wisconsin property, which covers 315 acres and houses manufacturer Foxconn Technology . The company plans to build a $1 billion data center at the location. (MarketWatch)
- Analyst named this bank stock a "Best Idea."
- Keep close watch of these cannabis stocks on 4/20.
- Bull note just boosted big-name bank stock.
Oil, Gold Pull Back
Black gold marked a two-week low close, moving back below $80 as demand outlook weighed. May-dated crude fell $1.70, or 2.1%, to close at $79.16 per barrel.
A stronger U.S. dollar sent gold prices lower this afternoon, though the precious metal remains above the round $2,000 level. The June-dated commodity lost $12.40 or 0.6%, to settle at $2,007.30 an ounce.