Dow Roars to Highest Close of 2019; Gold, Oil Enjoy Historic Days
U.S.-Iran tensions escalated after a drone was shot down
The Dow locked up a 249-point gain today, as well as its fourth straight win and highest close since Oct. 3's record highs. Wall Street continued to cheer yesterday's dovish Fed comments, helping the S&P 500 nab a new intraday record high, and ushering gold futures to a big win. Oil prices also had a monumental day, surging on accusations that Iran shot down a U.S. military drone. President Donald Trump initially tweeted that Iran "made a very big mistake," but later said it may have been unintentional.
Continue reading for more on today's market, including:
2 penny stocks expected to double. Short sellers circle CarMax stock ahead of earnings.This red-hot software stock has cheap options.Plus, 2 soaring biotechs; a can't miss GIS signal; and Chewy's options debut.The Dow Jones Industrial Average (DJI - 26,753.17) gained 294.2 points, or 0.9%, in today's trading. United Technologies (UTX) led the 26 winners with a 2.6% gain, while UnitedHealth (UNH) paced the four losers with a 1% drop.
The S&P 500 Index (SPX - 2,954.18) added 27.7 points, or 1%, after touching an all-time peak of 2,958.06, while the Nasdaq Composite (IXIC - 8,051.34) tacked on 64 points, or 0.8%.
The Cboe Volatility Index (VIX - 14.75) added 0.4 point, or 2.9%.
5 Items on our Radar Today
The U.S. Senate voted to blockmilitary sales to Saudi Arabia today, in a 53-45 vote. However, President Trump vowed to veto the Senate resolution, which garnered bipartisan approval amid concerns about Saudi Arabia's human rights abuses. (Reuters)Amazon.com (AMZN) is upping its exposure to college students. The e-commerce giant launched "Off-to-College," a storefront that will focus on dorm items and college supplies. It will also feature special perks for Amazon Prime members. (MarketWatch)2 biotech stocks that scaled the Nasdaq today.General Mills stock is flashing "buy" ahead of earnings.Chewy options activity was quiet despite its red-hot IPO.
Data courtesy of Trade-Alert
Oil, Gold Log Historic Days
Oil soared today in reaction to the escalating tensions between the U.S. and Iran. By the close and on expiration day, July-dated crude added $2.89, or 5.4%, to end at $56.65 per barrel -- oil's biggest single-session climb since December.
Gold surged today too, as traders reacted to a dovish Fed and a lower dollar. August-delivered gold added $48.10, or 3.6%, to settle at $1,396.90 an ounce. That's the highest close for gold since September 2013, and the biggest one-day gain in three years.