Market "Fear Gauge" Snaps Losing Streak as Earnings Disappoint

Oil fell to its lowest level since March

Managing Editor
Apr 20, 2023 at 4:27 PM
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Thursday's earnings barrage did not bode well for stocks, only adding to the volatility that has painted this week's trading landscape. All three major indexes closed in the red, with the Dow marking its third consecutive loss as Verizon (VZ) and Cisco Systems (CSCO) posted disappointing reports. On the flip side, however, the Cboe Volatility Index (VIX) snapped its six-day losing streak.

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

  • Cannabis industry experts weigh in on 4/20.
  • Verizon rival sees post-earnings options surge.
  • Plus, analysts circle casino stock; pharmacy retailer slips; and next week's economic and earnings schedule.

Closing Indexes Summary April 20

NYSE and Nasdaq Stats April 20

 Things to Know Today 

  1. A test launch for Elon Musk's SpaceX rocket is being deemed a "success," despite exploding after 4 minutes of flight. No crew were on board, and this came days after a failed launch attempt Monday. (CNBC)
  2. U.S. Treasury Secretary Janet Yellen called the relationship with China "tense," saying the country acted illegally in the past and the U.S. will not compromise on national security -- regardless of economic impact.  (MarketWatch)
  3. Analysts circled this casino stock after earnings.
  4. Pharmacy giant sees post-earnings slip
  5. Take a look at what's on the schedule for next week.

Corporate Earnings April 20

Unusual Options Activity April 20

Oil Falls to Multi-Week Low

Oil again settled below the round $80 level and hit their lowest mark since late-March this afternoon. May-dated crude fell $1.87, or 2.4%, to close at $77.29 per barrel.

Gold kept hold of it $2,000 level Thursday, brushing off any broader-market volatility. The June-dated commodity added $11.80 or 0.6%, to settle at $2,019.10 an ounce.


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