Dow, SPX Close At Record Peaks On Heels Of Retail Sales
Both the Dow and S&P 500 closed at fresh record highs today, with the former surpassing 34,000 for the first time, and the Nasdaq enjoying a 180-point gain, as corporate earnings and economic data boosted overall sentiment. U.S. retail sales soared 9.8% in March, their highest increase since May of 2020 and well above analyst estimates of 6.1%. Furthermore, initial weekly jobless claims dropped to their lowest level in over a year. Meanwhile, the 10-year Treasury yield showed a solid decline, lifting some weight off the back of Big Tech. Over in Washington, the U.S. has imposed several sanctions on Russia, due to an array of alleged "malign" actions.
The Dow Jones Industrial Average (DJI - 34,035.99) rose 305.1 points or 0.9% for the day. UnitedHealth (UNH) topped the list of blue chips, adding 3.8%, while Walgreen Boots Alliance (WBA) dropped to the bottom after shedding 1.4%.
Meanwhile, the S&P 500 Index (SPX - 4,170.42) added 45.8 points or 1.1% for the day, and the Nasdaq Composite (IXIC - 14,038.76) gained 180.9 points or 1.3%.
Lastly, the Cboe Volatility Index (VIX - 16.57) lost 0.4 points, or 2.5%, for the day.
COMMODITIES RUN TO FRESH HIGHS
Oil futures climbed for a fourth-straight session, extending yesterday's four-week high, as oil demand remains promising. May-dated crude rose 31 cents, or 0.5%, to settle at $63.46 a barrel.
Gold futures jumped to their highest level in seven weeks, as U.S. bond yields pulled back and tension stirred between the U.S., China, and Russia. June-dated gold rose an impressive $30.50, or 1.8%, to settle at $1,766.80 -- its largest percentage increase since early March.
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