Dow Rallies Amid Ebbing Fears Over Trade War
A round of Trump tweets helped the Dow bounce more than 200 points
The Dow surged over 200 pointstoday, as some anxieties over the U.S.-China trade war were assuaged by a round of President Donald Trump tweets. Notably, he said the two countries still "have a dialogue going," and that a trade deal "[will] happen, and much faster than people think!" Gains from trade-sensitive stocks like Caterpillar (CAT) and Boeing (BA) helped the index recover some of yesterday's losses, and a rebound in tech stocks helped the Nasdaq and S&P also stage strong comebacks.
Continue reading for more on today's market, including:
What to expect after the recent stock market sell-off. This apparel stock could suffer from China tariffs, according to analysts. 2 weed stocks that lit up the charts today. Plus, the food stock that could capitalize on swine fever; Ralph Lauren stock slips after earnings; and FIZZ stock sees heavy put volume.The Dow Jones Industrial Average (DJI - 25,532.05) gained 207.1 points, or 0.8%, in today's trading. Twenty-five of the blue chips finished higher, with Dow Inc (DOW) in the lead on a 3% jump, and UnitedHealth (UNH) bringing up the rear on a 1.3% drop.
The S&P 500 Index (SPX - 2,834.41) ended 22.5 points, or 0.8%, higher, and the Nasdaq Composite (IXIC - 7,734.49) ended 87.5 points, or 1.1%, higher.
The Cboe Volatility Index (VIX - 18.06) sunk 2.5 points, or 12.1%.
5 Items on our Radar Today
Google just announced during a conference today that it would be releasing several new shopping features, including homepages catered to customers' preferences and direct-buying capabilities. The search engine giant's plans are in direct response to fellow FAANG member Amazon's growing market share of online ads. (CNBC)France-based retailer Carrefour and U.S. recycling firm TerraCycle have teamed up to launch a new e-tail program utilizing reusable containers for everyday goods, called 'Loop.' The two companies are testing the new initiative in Paris, and will have roughly 200 products available, including items from Evian, Tropicana, and Quaker. (Reuters)African swine fever outbreak could mean more upside for this food stock, says analyst. Ralph Lauren stock tumbled, despite impressive earnings. Behind FIZZ stock's heavy put volume.
Data courtesy of Trade-Alert
Gold Backpedals as Traders Return to Stocks
Oil prices rebounded today, after Saudi Energy Minister Khalid al-Falih called adrone strike at a Saudi Arabian oil pumping station an "act of terrorism." The June-dated commodity surged 74 cents, or 1.2%, to settle at $61.78 per barrel.
Gold came off its one-month highs today, as stocks rose and traders stepped away from the "safe haven" precious metal. Gold for June delivery fell $5.50, or 0.4%, to land at $1,296.30 an ounce.