In Today's Update:
1) The FAANG stocks were the buyer's choice today as Facebook, Apple, Amazon, Netflix, and Alphabet all rose more than 2%. The Dow Jones Industrial Average gained 155.75 or 0.65%, the S&P 500 added 27.69 or 1.07% while the Nasdaq 100 closed higher by 117.92 or 1.71% and the Russell 2000 finished higher by 12.40 or 0.87%.
2) Crude Oil Futures bounced back from yesterdays sharp sell-off with a gain of $1.48 or 2.93% while Gold Futures traded slightly lower along with the U.S. dollar. The Bond market dropped again lifting the uield on the 10-year treasury note to 2.717%.
3) Shares of Netflix (NFLX) led the way higher for Technology stocks today after announcing that it plans to increase monthly membership prices by 13 to 18 percent. This will be the company's biggest price hike since launching its service over a decade ago. Investors celebrated the news by pushing the stock higher by $21.70 per share or 6.52%.