Dow Outperforms; S&P Extends Win Streak
A strong session from Boeing helped lift the Dow
The Dowrose convincingly today on hopes for a U.S.-China trade deal. The S&P 500 also managed to settle in positive territory -- bringing its daily win streak to six, the longest since February 2018 -- though the Nasdaq failed to mimic that strength, ending in the red as tech and Tesla shares weighed. While trade talks will likely continue to grab Wall Street's attention, tomorrow morning's nonfarm payrolls report will also receive plenty of focus, especially following Wednesday's weak jobs data.
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Analysts, options traders circled this Tesla rival. Weed stock Canopy Growth could be set to rally.Stock indexes flashed a rare bullish signal.Plus, Roku dinged by Apple fears; traders target oilfield services stock; and another Etsy bull note.The Dow Jones Industrial Average (DJI - 26,384.63) added 166.5 points, or 0.6%, with 19 of 30 Dow components closing higher. The best performance was a 5% gain in Dow (DOW), while Merck (MRK) had the worst day, losing 1.6%.
The S&P 500 Index (SPX - 2,879.39) tacked on 6 points, or 0.2%, while the Nasdaq Composite (IXIC - 7,891.78) lost 3.8 points, or 0.05%.
The Cboe Volatility Index (VIX - 13.58) shed 0.2 point, or 1.2%.
5 Items on our Radar Today
In the latest twist between the U.S. and China's Huawei, prosecutors revealed that the U.S. obtained information on the company through secret surveillance that it plans on using in court. No details were given, but the U.S. told Huawei it retrieved the information through "electronic surveillance and physical search." (Reuters)Snapchat will begin including games in its app as it tries to gain access in the growing space of multiplayer gaming. The first game will be called "Bitmoji Party," with other games due out in the future. (MarketWatch)Roku stock was downgraded on Apple concerns. Why this price point is so crucial for one oilfield services stock.Inside the latest Etsy bull note.
Data courtesy of Trade-Alert
Oil Prices Fall for Second Straight Day
Domestic supply concerns kept pressure on oil prices for a second straight day. May crude futures finished down 36 cents, or 0.6%, at $62.10 per barrel.
Gold prices pared much of their intraday decline, but still closed below breakeven. June gold futures dropped $1 to settle at $1,294.30 an ounce.