The S&P traded atop its 200-day moving average for the first time since early March
Stocks roared back to life after the long holiday weekend, ending Tuesday with impressive daily wins. Most notably, the S&P 500 jumped over the the 3,000 level, which coincides with its closely watched 200-day moving average, for the first time sinceearly March, before ending the day just below the region. Meanwhile, the Dow slid into the close with a nearly 530-point win, while the Nasdaq also enjoyed an impressive daily gain. This broad-market push higher came amid positive progress on a potential coronavirus vaccine, with Novavax (NVAX) reporting its first human study on Monday, and optimism over the graduallyreopening economy.
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Spotify stock under pressure as Amazon stepsinto the podcast arena. Why it could be a critical summer for the video game sector this year. Plus, Deutsche Bank's red-hot options pits; AZO's post-earnings drive higher; and the vaccine plans giving Merck a lift.The Dow Jones Industrial Average (DJI - 24,4995.11) added roughly 530 points, or 2.2% for the day. All but six constituents finished higher, with Goldman Sachs (GS) at the top of the list on a nearly 9% win, while Microsoft (MSFT)slid to the bottom on a 1.1% drop.
The S&P 500 Index (SPX - 2,991.77) ended 36.3 points, or 1.2% higher, while the Nasdaq Composite (IXIC - 9,340.22) ended 15.63 points, or 0.2%, higher.
The Cboe Volatility Index (VIX - 28.01) dropped 0.2 point or 0.5%.
Data courtesy of Trade-Alert
An uptick in demand, paired with optimism over a continued drop in crude supplies, pushed oil futures higher today. July-dated crude added $1.10 cents, or 3.3%, to settle at $34.35 a barrel.
The general optimism felt on Wall Street pushed gold futures lower on Tuesday. Gold for June delivery settled down $29.90, or 1.7% to $1,705.60 an ounce.