Stocks were down today, but finished April with the best month in 33 years!

Stock Market Update Thursday, April 30th, 2020

Boeing Stock Analysis after the crash

Stocks suffered losses on the last trading day of April. But all things considered, it was quite a month!!!

In fact, April was the best month in 33 years for the stock market!

The S&P finished with its biggest one-month gain since 1987

But although we had a strong April, trading was rough today.

Index futures were lower overnight, then slide again after Jobless Claims were released pre-market.

There were 3.84 million Americans that filed for unemployment last week. This brings the total to more than 30 million over the last 6 weeks.

And U.S. consumer spending was another concern, down big with a 7.5% drop in March.

Stocks saw a small bounce in the morning, but then extended loses during lunch.

The rest of the day was choppy and sideways.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.9% loss. Down 27 points, the S&P ended at 2,912.
  • The DOW ended 1.2% lower. Dropping 288 points the DOW closed at 24,346.
  • The NASDAQ was down 0.3%. With a 29 point loss the NASDAQ finished at 8,889.

Crude Oil (CL) rallied for the 2nd day in a row. With a 22.5% gain, Crude Oil ended the day at $18.55 a barrel.

Banks were some of the hardest hit today.

Bank of America (BAC) dropped 3.0%, Citigroup (C) lost 3.4% and JPMorgan (JPM) slide 2.2%.

But Facebook (FB) was higher after reporting better than expected revenue. Facebook’s 5.4% gain came after the company said that sales in April stabilized after a “significant” pullback because of the coronavirus outbreak.

Amazon (AMZN) and Apple (AAPL) were up 4.3% and 2.2%  ahead of after the bell earnings releases from the two companies.

And Amazon is down more than 5.0% after reporting worse than expected earnings. The company said that they are spending all of their Q2 earnings  on responding to coronavirus. In after-hours trading Amazon is down more than 5.0%.

Apple is also down 2.0% after hours, reporting that iPhone sales are down 7% from a year ago.

Tomorrow’s earnings calendar features Exxon Mobil (XOM) and Chevron (CVX).

Here is the economic calendar for the week:

Real Time Economic Calendar provided by

This Stock Market Update was provided by Rockwell Trading Services LLC.

Related Posts

Crazy Trading: DOW down 360 points and NASDAQ makes new record highs!

Shocking: More than 3MM Coronavirus cases and stocks rally?

Stocks lower as WHO says “global death toll begins to rise”

DOW gains 460 points after China’s impressive 6% rally

Leave a Reply

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}