Chinese President Xi Jinping's speech diminished trade war concerns, sending U.S. stocks rocketing higher, and lifting the Dow more than 500 points at its intraday peak. All three major indexes finished the day higher, with energy stocks following oil prices into the black amid increasing tensions in Syria. Tech and FAANG stocks also had a good day on the charts, with Facebook ( FB ) shares enjoying their best day in nearly two years as founder and CEO Mark Zuckerberg stepped before Congress.
Continue reading for more on today's market, including:
- The options signal flashing for the first time since the election.
- Options traders reacted to the Nvidia upgrade .
- Analysts: Buy these 3 stocks .
- Plus, the soaring electrical stock; popular retail puts ahead of earnings; and the FAANG stock that could surge 20%.
The Dow Jones Industrial Average (DJI - 24,408.00) picked up 428.9 points, or 1.8%. Boeing ( BA ) was the biggest gainer, surging 3.8% to lead the other 29 blue-chip winners. Nike ( NKE ) was the only loser, falling 0.3%.
The S&P 500 Index (SPX -2,656.87) gained 43.7 points, or 1.7%. The Nasdaq Composite (IXIC - 7,094.30) managed to pick up 144 points, or 2.1%.
The Cboe Volatility Index (VIX - 20.47) lost 1.3 point, or 6%, for the day.
5 Items on Our Radar Today
- Shares of both T-Mobile ( TMUS ) and Sprint ( S ) surged after reports surfaced that the two cellular device companies are taking another shot at merging . The cell phone concerns in November called off talks after being unable to agree on a deal. ( CNBC )
- The Institute of International Finance recently outlined mounting global debt . Specifically, global debt rose $21 trillion year-over-year to $237 trillion in 2017, as investors capitalize on low interest rates. ( MarketWatch )
- The electrical stock that soared on an FCC nod .
- Puts are growing popular on this retailer ahead of earnings .
- Analyst: Subscriber growth could boost Netflix 20% .
Data courtesy of Trade-Alert
Gold, Oil Finish Higher Amid Syria Concerns
As trade war worries disintegrated, concerns about military action and supply disruptions in Syria sent crude futures soaring to their highest finish in two weeks. May-dated oil futures finished the day 3.3%, or $2.09, higher, at $65.51 per barrel. Brent crude, meanwhile, rallied to its highest level since 2014.
A weaker dollar and concerns about the U.S.' involvement in Syria lifted gold futures. June-dated gold finished up $5.80, or 0.4%, to settle at $1,345.90 per ounce.
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