D&D Note (4.30.2020) ~ Investors Take Profits After Recent Run ~
The rally has gone too far too fast. Investors take profits on the recent run up in the markets.
DOW down -1.17%
S&P 500 down -0.92% (2912.43)
NASDAQ down -0.28%
VIX up 9.35% to 34.15
Oil up 27.76% to $19.24 a barrel.
Apple beats on earnings but falls in after hours over 1%. The company now has 192.8 Billion in cash on hand. They increase their buyback program and increase the dividend.
Amazon reports inline but had rallied into the close to record highs and now down in after hours 5%.
Texas reports its deadliest Covid-19 day today since the pandemic began.
The U.S. Justice Department begins inquiry into the SBA PPP and is already finding evidence of fraud.
Dave James / Principal Trader and Market Strategist