Dow Rises After Fed Decision, Powell Comments

The S&P 500 and Nasdaq started May in the red after a choppy session

Deputy Editor
May 1, 2024 at 4:23 PM
facebook X logo linkedin


The central bank voted to hold rates steady, with no hints as to cuts any time soon, as inflation data remains stubborn. However, Federal Reserve Chairman Jerome Powell's statement expressing the unlikelihood of a hike injected some optimism into Wall Street later in the day. Fresh off April losses for all three major benchmarks, the Dow added 87 points to kick off the month -- but pared gains from its session highs -- while the S&P 500 and Nasdaq finished modestly lower amid a volatile session. 

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

  • A look at DraftKings stock ahead of tomorrow's report
  • CVS Health stock crashes as higher medical costs dent profits.
  • Plus, election year analysis, and two post-earnings reactions to unpack.

Summary 0501

NYSE Nasdaq 0501

5 Things to Know Today

  1. A new exchange-traded fund (ETF) helps eliminate risk by using "flex" call options. (MarketWatch)
  2. Key takeaways from the Fed's interest rate decision. (Bloomberg)
  3. Will "sell in May and go away" hold true this year?
  4. Options traders target Pinterest stock after forecast hike. 
  5. Starbucks stock hit with bear notes after earnings. 

Earnings 0501

UVOL 0501

Oil Falls After Rise in Weekly Crude Supplies

Oil prices moved lower, after U.S. data showed a surprise climb in weekly crude inventories of 7 million barrels. West Texas Intermediate (WTI) crude fell $2.93, or 3.6%, to $79 a barrel. 

Gold prices inched higher after the latest Fed decision, with June-dated gold futures adding 0.4% to settle at $2,312.70 per ounce. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI