The Dow rallied triple digits for a second straight session, marking its first back-to-back gains in February. A surge in tech stocks helped the index rally more than 400 points, with all but two of the 30 Dow stocks finishing in the black. The S&P and Nasdaq also rebounded following the stock market's worst week since 2016 , with materials and industrial stocks gaining after President Donald Trump unveiled his infrastructure plan . In fact, it was the S&P's first consecutive gains of at least 1% since June 2016.
Continue reading for more on today's market, including:
- The signal that called the March 2009 bottom just flashed again.
- How options traders are playing Pepsi stock ahead of earnings tomorrow.
- Analyst: Buy this Dow stock before earnings.
- Plus, 5 retail stocks to buy now; the latest Amazon casualty; and Alibaba's newest partner.
The Dow Jones Industrial Average (DJI - 24,601.27) ended with a gain of 410.4 points, or 1.7%. Apple ( AAPL ) led the 28 advancing blue chips, gaining 4%, while Home Depot ( HD ) and General Electric ( GE ) were the lone Dow stocks in the red, dropping 0.03% and 0.8%, respectively.
The S&P 500 Index (SPX - 2, 656.00) added 36.5 points, or 1.4%, on the day. The Nasdaq Composite (IXIC - 6,981.96) rallied 107.5 points, or 1.6%, by the closing bell.
The CBOE Volatility Index (VIX - 25.61) gave up 3.5 points, or 11.9%, for its lowest close since Feb. 2. Wall Street's "fear gauge" is now down about 50% from its two-year high above 50, touched on Feb. 6.
5 Items on Our Radar Today
- Apple's HomePod was released last week, but Consumer Reports isn't impressed with the audio. In a recent review, the HomePod's bass was "a bit boomy and overemphasized," and the device was beaten by Alphabet's Google Home Max and the Sonos One in overall sound quality. ( MarketWatch )
- Purdue Pharma will no longer promote its OxyContin drug to healthcare professionals, starting today, due to the nationwide opioid epidemic. The privately held drugmaker is also cutting its sales staff. ( USA Today )
- Cowen: Buy these 5 retail stocks right now.
- The latest victim of Amazon ( AMZN ) expansion.
- The big-cap partnership that boosted Alibaba ( BABA ) stock today.
Data courtesy of Trade-Alert
Gold Enjoys Best Day in 2 Weeks
Oil prices briefly climbed atop $60 per barrel, but ultimately pared their gains into the close. March-dated crude futures finished with a gain of 9 cents at $59.29 per barrel, after the Energy Information Administration (EIA) predicted increased domestic oil production next month.
Gold enjoyed its best day in over two weeks, thanks to a weaker dollar. April-dated gold futures advanced $10.70, or 0.8%, to settle at $1,326.40 an ounce.