S&P, Nasdaq Secure Record Closes; Dow Powers North
Corporate earnings took U.S. markets by storm today
U.S. stocks closed significantly higher, with both the S&P 500 and Nasdaq nabbing all-time closing highs on the back of several impressive corporate earnings reports and strong housing data. The Dow also made a notable move north, settling at its highest mark since Oct. 3, after noteworthy results surfaced out of United Technologies (UTX) and Coca-Cola (KO). Keeping gains in check, however, was Procter & Gamble (PG), after the blue chip issued a soft full-year outlook.
Continue reading for more on today's market, including:
Pre-earnings options bulls eye record-setting Microsoft. Analyst: This drug stock could triple. Jefferies set a high price target for PayPal ahead of earnings. Plus, Disney's new high; a big day for Hasbro; and the e-commerce name with a promising future.The Dow Jones Industrial Average (DJI - 26,656.39) shot 145.3 points, or 0.6% higher. UTX was the best of the 22 Dow gainers, adding 2.3%. On the flip side, PG paced the eight losers with its 2.7% drop.
The S&P 500 Index (SPX - 2,933.68) soared 25.7 points, or 0.9%. The Nasdaq Composite (IXIC - 8,120.82) captured a 105.6-point, or 1.3%, gain.
The Cboe Volatility Index (VIX - 12.28) tanked 0.1 point, or 1.1%.
5 Items on our Radar Today
After being put "on notice" by the U.S. Food and Drug Administration (FDA), Walgreens Boots Alliance (WBA) said it plans to raise the minimum age to buy tobacco products to 21, effective Sept. 1. The Dow name was reprimanded by the FDA after being accused of selling cigarettes and other tobacco products to minors. (CNBC)Earlier today, PepsiCo (PEP) revealed three new fruit flavors to its cola collection, currently being sold in stores nationwide until June 14. After this, the flavors will be available in eight packs at Walmart (WMT) and Target (TGT). The drinks are made of "real fruit juice," and the flavors are Pepsi Berry, Pepsi Lime, and Pepsi Mango. (MarketWatch) Disney stock hit a record high ahead of the latest Avengers release.Earnings surprise sends Hasbro to its best day in years.Shopify stock's future looks promising to one analyst.
Data courtesy of Trade-Alert
Oil Gains, Gold Tanks
Oil prices soared, as traders continued to cheer U.S. efforts to end waivers on Iranian oil imports. The now front-month June-dated crude contract gained 75 cents, or 1.1%, to close at $66.30 per barrel -- the commodity's loftiest settlement since Oct. 29.
Gold tanked as headwinds surfaced from a surging greenback. June-dated gold sank $4.40, or 0.3%, to settle at $1,273.20 per ounce, its lowest close since Dec. 26.