Jhe major indexes rebounded strongly on Thursday, with the Dow Jones settling with a gain of more than 614 points, making its biggest daily jump since March 9. Meanwhile, the Nasdaq added more than 3% and the S&P 500 veered into triple digits to notch, both also posting their biggest daily percentage gains since early March. Promising revenue reports of several big names including Facebook parent Metaplatforms (FB), provided some serious tailwinds to the market as investors took a breather from the extreme volatility that overshadowed April. Despite today’s positive price action, however, all three indices are still on course for notable monthly losses.
Keep reading to learn more about the current market, including:
- Why Bulls Might Want add CME to their watch list in May.
- here’s how McDonald’s stock made after winnings.
- Plus, 5 EV stocks to watch; a closer look at FUBO; and behind TDOC’s post-earnings slump.
the Dow Jones Average (DJI – 33,916.39) increased by 614.5 points, or 1.9%. Salesforce (CRM) topped the Dow list with a 6.3% rise, while Amgen (AMGN) fell to the bottom after losing 4.3%.
the S&P 500 Index (SPX – 4,287.50) added 103.5 points, or 2.5%, while Nasdaq Composite (IXIC – 12,871.53) added 382.6 points, or 3.1%.
Finally, the Cboe Market Volatility Index (VIX – 29.99) down 1.6 points, or 5.1%.
5 things to know today
- US President Joe Biden has said that while he is not considering canceling $50,000 in student loans, he is considering “additional debt forgiveness.” (CNBC)
- Republican officials and activists in eight U.S. localities conspired to gain access to voting systems through illegal means in an effort to prove vote-rigging conspiracy theories. (Reuters)
- these 5 electric vehicle stocks are worth watching right now.
- Assess the risks and benefits of this streaming stock.
- What was wrong with Teladoc stock after earnings.
Gold rises after 2-month rout
Oil prices rose for the third consecutive time on Thursday, following a report that Germany no longer opposes the European Union’s (EU) ban on Russian oil purchases, although the country said it would take time to find another source of supply. June-dated West Texas Intermediate (WTI) crude added $3.34, or 3.3%, to close at $105.36 a barrel.
Gold futures rose slightly, coming off a two-month low, although the rising US dollar still weighed. Gold dated June added $2.60, or 0.1%, to close at $1,891.30 an ounce.
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