Stocks Post Strong Gains Amid Earnings Rush
Stocks rose across the board today, with both the Dow and Nasdaq adding triple digits, the former scoring its biggest single-session pop since March 27. Investors continued to mull over yesterday's Fed decision and commentary, while unpacking today's flood of corporate earnings reports. Big tech stocks enjoyed a boost as bond yields fell, as Wall Street's attention now shifts toward tomorrow's nonfarm payrolls report for April.
Continue reading for more on today's market, including:
- 2 tech stocks swinging sharply in opposite directions.
- Dow stock brushing historically bullish trendline.
- Plus, three stocks moving outsized moves after earnings.
5 Things to Know Today
- Sony Global (SONY) and Apollo Global (APO) made a $26 billion offer to purchase Paramount Global (PARA). (Bloomberg)
- Electric vehicle maker Rivian Automotive (RIVN) received $827 billion from the state of Illinois to expand its plant, lifting the stock in turn. (MarketWatch)
- Job cuts couldn't save Peloton stock today.
- Disappointing profit forecast dings food delivery name.
- Carvana stockmay be having the best 12 months on Wall Street.
Oil, Gold Edge Lower
U.S. oil prices moved lower the second day, though prices rose globally. June-dated West Texas Intermediate (WTI) crude fell 5 cents, or nearly 0.1%, to settle at $78.95 a barrel on the New York Mercantile Exchange.
Gold prices inched lower as well, with June-dated gold futures dropping 0.1% lower to settle at $2,309.60.
