The Dow posted strong gains for a second straight day, as stocks rallied into the weekend. An extended slide in Treasury yields helped spark another round of buying in equities, as did easing concerns about accelerated Fed rate hikes. The S&P 500and Nasdaq also posted impressive wins -- with the latter snapping a four-day losing streak -- as tech and healthcare stocks outperformed. Thanks to the broad-market advance, the major indexes were able to erase their weekly losses -- though they're still set to snap a 10-month winning streak. The VIX, meanwhile, suffered another double-digit percentage slide.
Continue reading for more on today's market, including:
2 biotech stocks to buy now. Analysts are still enamored with sliding NutriSystem stock ahead of earnings.3 restaurant stocks attracting short sellers. Plus, Amazon hurts UPS stock again; a sinking software stock; and checking in on gun stocks.TheDow Jones Industrial Average (DJI - 25,309.99) spent the day trading in positive territory and closed near session highs, adding 347.5 points, or 1.4%. Every Dow component closed higher except General Electric (GE) and United Technologies (UTX), which fell 0.1% and 0.3%, respectively. The best-performing Dow stock was Intel (INTC), up 4.2% at the close. For the week the Dow gained 0.4%.
The S&P 500 Index (SPX - 2,747.30) rose 43.3 points, or 1.6%, and the Nasdaq Composite (IXIC - 7,337.39) ended up 127.3 points, or 1.8%. For the week, the SPX was up 0.6% and the Nasdaq gained 1.4%.
The Cboe Volatility Index (VIX - 16.49) fell 2.2 points, or 11.9%, ending the week with a 15.3% deficit.
Data courtesy of Trade-Alert
Oil prices ticked higher again thanks to the shutdown of a major oilfield in Libya. April crude futures were up 78 cents, or 1.2%, at $63.55 per barrel, bringing oil's weekly gain to roughly 3%.
Gold prices, meanwhile, pulled back today amid the risk-on session for equities. Gold for April delivery shed $2.40, or 0.2%, to land at $1,330.30 an ounce. The precious metal finished the week down 1.7% -- its worst week of 2018.