Tech Trims Gains, Strong Bank Earnings Send Dow To Fresh Peak

The Dow closed 53 points higher today as strong bank earnings boosted sentiment, and earlier touched an intraday high before trimming its gains. On the other hand, the Nasdaq fell triple digits as Big Tech sank, while the S&P 500 pulled back from its own record peak to close in the red as well. Elsewhere, the Federal Reserve's "Beige Book" survey pointed to economic recovery, but also an uptick in inflation. Meanwhile, Coinbase (COIN) has garnered plenty of attention today with its Nasdaq debut. 

The Dow Jones Industrial Average (DJI - 33,730.89) rose 53.6 points or 0.2% for the day. Goldman Sachs (GS) topped the list of blue chips, adding 2.3%, while JPMorgan Chase (JPM) dropped to the bottom after shedding 1.9%. 

Meanwhile, the S&P 500 Index (SPX - 4,124.66lost 16.9 points, or 0.4%, for the day, and the Nasdaq Composite (IXIC - 13,857.84) dropped 138.3 points, or 1%.

Lastly, the CBOE Volatility Index (VIX - 16.99) added 0.3 point, or 2%, for the day.

Closing Indexes Summary April 14

NYSE and Nasdaq Stats April 14

Earnings April 14

Unusual Options Activity April 14

OIL CLIMBS ON HINTS OF HIGHER DEMAND

Oil futures closed higher for a third-straight session and marked a nearly four-week high, after an update from the International Energy Agency (IEA) expecting higher global oil demand this year, as well as a drop in crude supplies for last week. May-dated crude rose $2.97, or 4.9%, to settle at $63.15 a barrel. 

Gold futures fell today amid rising bond yields and the aforementioned "Beige Book" data. June-dated gold fell $11.30, or 0.7%, to settle at $1,736.30 an ounce. 

Disclaimer: Schaeffer's Investment Research ("SIR" or "we" or "us") is not registered as an investment adviser. SIR relies upon the "publishers' ...

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