Stocks Rise on China Trade Negotiations
However, the Dow finished well off its session high
Wall Street was mostly focused on President Donald Trump's Twitter account today, and the Dow muscled higher as a result -- though the index settled well off its session high. President Trump on Sunday evening tweeted about the progress in U.S.-China trade talks and extended his March 1 tariff deadline. The president also tweeted about his dismay for oil prices that are "too high," which sent crude futures lower. Traders also considered headlines on the M&A front, while corporate earnings could be back in focus tomorrow, with names like Home Depot and Macy's set to report.
Continue reading for more on today's market, including:
The 25 best stocks for March, historically.How the options crowd is speculating on Home Depot earnings. Bearish analyst call sent one marijuana stock tumbling today. Plus, a closer look at Macy's earnings; a huge win for option bears; and a healthcare stock with 50% upside.The Dow Jones Industrial Average (DJI - 26,091.95) was up more than 200 points at its session peak, but ultimately settled with a gain of 60.1 points, or 0.2%. Twenty of the 30 Dow stocks ended higher, led by DowDuPont (DWDP) and trade-sensitive Caterpillar (CAT), both up 2%. Walt Disney (DIS) paced the 10 laggards with a 1.4% drop.
The S&P 500 Index (SPX - 2,796.11) rose 3.4 points, or 0.1%, and the Nasdaq Composite (IXIC - 7,554.46) added roughly 27 points, or 0.4%, after moving above the 7,600 level in intraday trading -- a first since October.
The Cboe Volatility Index (VIX - 14.85) bounced 1.3 points, or 9.9%.
5 Items on our Radar Today
Just months after Harley-Davidson released its own electric motorcycle, privately owned Zero Motorcycles just revealed two new models. The standard model starts at $18,995, coming in much cheaper than Harley's LiveWire. (CNBC)The Wall Street Journal today released a report discussing the increase in prices of foods that are seen as healthy fats, such as avocados and olive oil. Producers have struggled to keep up with the growing demand, and there have been shortages in items such as European-style butter. (Fortune) The chart level Macy's speculators are targeting. How options traders won big on this stock's sell-off. Analyst sees more than 50% upside for one healthcare stock.
Data courtesy of Trade-Alert
Oil Sinks After Trump Tweet
Trump's tweet about high oil prices sent black gold lower on the day, though there were also reports that the Organization of the Petroleum Exporting Countries (OPEC) is planning on more output cuts. April-dated crude futures finished down $1.78, or 3.1%, at $55.48 per barrel.
Gold prices struggled amid the risk-on session for equities. Gold for April delivery fell $3.30, or 0.3%, to end at $1,329.50 an ounce.