Stocks record big wins as big tech comes to life
Stocks started the week with a win, with the previously beaten tech sector leading the charge. Leading giants such as You’re here (TSLA), Microsoft (MSFT) and Apple (AAPL) soared after the 10-year Treasury yield fell to 1.68%, which helped allay valuation fears. Sentiment was also boosted by the accelerated pace of vaccination programs in the United States and the results of AstraZeneca’s (AZN) encouraging trials for its Covid-19 vaccine.
As a result, the Dow Jones jumped 103 points, while the S&P 500 and Nasdaq also posted modest gains. Elsewhere, Wall Street’s “fear gauge”, the Cboe Volatility Index (VIX), fell to an annual low for its ninth loss in 10 sessions.
Read on to find out more about today market, including:
- Catch up on the biggest movements of cannabis stocks.
- Draftkings’ stock has skyrocketed to new heights after an analyst note.
- In addition, what is left for a real estate stock; more information on JetBlue’s convertible debt agreement; and why options traders blasted PEP.
the Dow Jones Industrial Average (DJI – 32,731.20) pink 103.2 points, or 0.3% today. Intel (INTC) topped the Dow components list with a 2.9% rise, while JPMorgan (JPM) fell 2.7% to follow the laggards.
Meanwhile, the S&P 500 Index (SPX – 3,940.59) won 27.5 points, or 0.7% for the day. the Nasdaq Composite (IXIC – 13,377.54) added 162.3 points, or 1.2% for the day.
Finally, the Cboe Volatility Index (VIX – 18.88) was down 2.1 points, or 9.9%, on the day.
- Don’t worry if you haven’t received your stimulus payment Yet another batch of checks will hit bank accounts this week. (CNBC)
- Vaccine production is increasing and the American vaccination program will be boosted accordingly. (MarketWatch)
- After a huge 2020, can Action Walker & Dunlop continue to thrive?
- Convertible Debt Agreement Sent This airline stock lower.
- Options traders stacked on PEP after an analyst upgrade.
There was no noticeable gain today.
Oil reverses after last week’s sale
After sharply selling off last week, oil prices kicked off Monday with a win. Investors are hopeful that efforts to recover the economy will lead to a pickup in demand later this year. Still, new foreclosure measures in Europe put pressure on black gold, hampering further gains. In response, May-dated crude added 12 cents, or 0.2%, to settle at $ 61.56 a barrel.
Gold prices fell today as the rally in the US dollar took a breather. The larger losses were brought under control by the pullback in Treasury yields, but the lack of respite offered failed to attract the yellow metal further. As a result, gold dated April fell $ 3.60, or 0.2%, to settle at $ 1,738.10 an ounce.
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