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The S&P 500, Dow Jones Industrial Average and NASDAQ Composite Index closed higher on Wednesday, April 21, after declining for two consecutive days.
The S&P 500 added 38 points while Dow Jones gained 316 points. NASDAQ Composite Index picked up 164 points on Wednesday.
Almost all the sectors rallied on Wednesday with several companies reporting robust results. Netflix shares slipped after it posted a disappointing subscriber number for the first quarter.
The S&P 500 gained 0.93 percent to 4,173.42. The Dow Jones was up 0.93 percent to 34,137.31. The NASDAQ Composite Index rose 1.19 percent to 13,950.22 while the small-cap Russell 2000 rallied 2.35 percent to 2,239.63.
Netflix shares plunged over 7 percent after the company’s first-quarter subscriber growth fell below estimates. The company’s total subscriber count by the end of the quarter totaled 207.64 million, missing its forecast of 210 million subscribers. However, Netflix’s 24 percent year-over-year growth in revenue boosted its net income during the quarter to US$1.71 billion, up 141 percent.
Consumer companies including Chipotle Mexican Grill and Las Vegas Sands are scheduled to report their first-quarter earnings today after the market close.
Source: Pixabay
Top Gainers
Top performers on S&P 500 were DISH Network Corp. (10.98%), Norwegian Cruise Line Holdings Ltd. (10.32%), Intuitive Surgical Inc. (9.90%) and Discovery Inc. (8.49%).
Shineco Inc. (31.50%), Greenbox Pos (27.39%), Tiptree Inc. (26.85%) and Plby Group Inc. (26.27%) were top performers on NASDAQ.
On Dow Jones, International Business Machines Corp. (3.90%), Dow Inc. (3.75%), Nike Inc. (2.19%) and Caterpillar Inc. (2.12%) gained the most.
Top Losers
Top laggards on S&P 500 were Netflix Inc. (7.40%), Halliburton Co. (3.58%), Oracle Corp. (3.26%) and Nextera Energy Inc. (3.18%).
Digital Ally Inc. (11.86%), LAVA Therapeutics NV (9.63%), j2 Global Inc. (8.51%) and Design Therapeutics Inc. (8.43%) were among the top losers on NASDAQ.
On Dow Jones, Procter & Gamble Co. (0.65%), Verizon Communications Inc. (0.43%), Mcdonald's Corp. (0.32%) and Amgen Inc. (0.14%) were laggards.
Image Source: Refinitiv, S&P 500 April 21, 2021 chart
Volume Movers
Top volume movers were Sundial Growers Inc. (20.94M), Ocugen Inc. (14.99M), Apple Inc. (14.50M), Ford Motor Co. (11.29M), ViacomCBS Inc. (9.93M), American Airlines Group Inc. (9.91M) and Bank of America Corp. (9.07M).
Futures & Commodities
Gold futures were up 0.89 percent to US$1,794.30 per ounce on Wednesday. Silver rose 3.08 percent to US$26.637 per ounce, while copper grew 1.75 percent to US$4.2867.
Brent oil futures decreased slightly by 0.02 percent to US$65.03 per barrel and WTI crude dropped 2.57 percent to US$61.06.
Bond Market
The 30-year Treasury bond yields declined by 0.32 percent on Wednesday to 2.253 while the 10-year bond yields fell 0.19 percent to 1.5590.
US Dollar Futures Index was down 0.14 percent to US$91.095 on April 21.
