Dow Erases Friday's Fed-Induced Selloff, Adds 586 Points

It was a miserable couple of days for the Dow, following the Federal Reserve's decidedly hawkish comments late last week, which released as investors rotated out of reopening and commodity stocks. These sectors staged a strong rally today, and the blue-chip index wound up kicking off a fresh week with a 586-point pop -- marking its biggest one-day jump since early March. The S&P 500 also saw a rebound, with many on Wall Street considering last week's response to the central banks new economic projection overly dramatic. The Nasdaq saw the most muted performance, weighed down slightly by several Big Tech names, but still managed a triple-digit jump on Monday.  

The Dow Jones Average (DJI - 33,876.97) tacked on 586.9 points or 1.8% for the day. All 30 Dow members finished in the black. American Express (AXP) saw the biggest jump, adding 4.3%, while Merck & Co (MRK) saw the smallest gain, settling up 0.2%.

Meanwhile, the S&P 500 Index (SPX - 4,224.79) added 58.3 points, or 1.4%. The Nasdaq Composite (IXIC - 14,141.48) added 111.1 points, or 0.8% for the day. 

Lastly, the Cboe Volatility Index (VIX - 17.89) dropped 2.8 points or 13.6%.

Closing Indexe Summary June 21

Unusual Options Activity June 21

NYSE and Nasdaq Stats June 21

CRUDE HITS HIGHEST LEVEL SINCE 2018

Oil prices strung together another win today, touching their highest close since 2018. The commodity had a lot going for it today, including the economy's continued recovery, as well as little to no headway on a nuclear deal between the U.S. and Iran. As a result, July-dated crude added $2.02, or 2.8%, to settle at $73.66 per barrel.

Meanwhile, gold prices were also rebounding from last week's sharp pullback, as the rallying U.S. dollar lost some steam. In turn, August-dated gold added $13.90, or 0.8%, to settle at $1,782.90 an ounce, coming back from its worst week in over a year.  

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