Stocks Bounce Back Amid U.S.-Iran Tanker Tensions
Disney stock also boosted the Dow
It was a bounce-back session for the Dow today, as energy stocks and Disney (DIS) helped the blue-chip index to a triple-digit rebound after a two-day slump. Investors are monitoring the Gulf of Oman, where two tanker attacks sent oil prices climbing -- and subsequently escalatedtensions between the U.S. and Iran. Specifically, Secretary of State Mike Pompeo blamed Iran for the attacks, and President Donald Trump tweeted that "it is too soon to even think about making a deal" with the country.
Continue reading for more on today's market, including:
Analyst: This weed stock could double. One options trader called a floor on First Solar stock. This airline stock soared on a earnings prediction.Plus, more love for ride-sharing; the best stocks for Fed week; and a drug stock to buy the dip on.The Dow Jones Industrial Average (DJI - 26,106.77) gained 101.9 points, or 0.4%, in today's trading. Walt Disney (DIS) led the 19 winners with a 4.4% gain, while Pfizer (PFE) paced the 11 losers with a 1.3% drop.
The S&P 500 Index (SPX - 2,891.64) added 11.8 points, or 0.4%, while the Nasdaq Composite (IXIC - 7,837.13) tacked on 44.4 points, or 0.6%.
The Cboe Volatility Index (VIX - 15.82) shed 0.09 point, or 0.6%.
5 Items on our Radar Today
2020 Presidential candidate and current Senator of Massachusetts Elizabeth Warren will introduce a bill to Congress that would cancel up to $50,000 in student debt for most loan borrowers. The proposed bill has been a key component of Warren's presidential campaign. (MarketWatch)Despite a U.S. ban and trade tensions, China's Huawei has filed to trademark its operating system in Europe and several other countries. This is largely seen as a back-up plan amid the U.S. blacklist. (Reuters)Uber and Lyft stocks got more analyst love today.These are the stocks to buy before the Fed meeting next week.Signal says this red-hot drug stock isn't done climbing yet
Data courtesy of Trade-Alert
Oil Climbs on Tanker Drama; Gold Logs Third Straight
Black gold was the big story today, rising in the wake of the damaged duo of oil tankers off the coast of Iran.By the close, July-dated crude added $1.14, or 2.2%, to end at $52.28 per barrel. Oil earlier peaked at $53.45 per barrel.
Gold notched its third straight win today, as geopolitical tensions and increasing odds of a Fed rate cut soon boosted the safe-haven asset. August-delivered gold added $6.90, or 0.5%, to settle at $1,343.70 an ounce.