It was a busy day in the markets thanks to an early disclosure of the FOMC meeting minutes bearing good news.?
Is the beginning of something new: releasing the minutes earlier in the trading day or was it just a one-time snafu? ?
For the Dow Jones Industrial Average (DJIA) and S&P 500, they reached new heights on Wednesday.?
The DJIA?increased 128.78 points (0.9%), to 14,802.24 for a record close. During the trading day, it hit an intraday record at 14,826.66. Wednesday’s numbers represented its greatest point gain since Feb. 27 and its highest percentage gain since March 5.
During the trading day, the S&P 500 hit 1,589.07–an intraday record that surpassed the previous one of 1,576.09 set back in October 2007. It also saw a record close at 1,587.73, up 19.12 points (1.2%).
One market strategist forecast a 1,600 close by Friday, reported MarketWatch.?
The exchange-traded fund, the SPDR S&P 500 Trust (SPY), jumped?20 points (1.22%) to also reach an all-time high.?
The Nasdaq was not to be left out on Wednesday’s climb. It increased 59.40 (1.8%) to close at 3,297.25 for the day. This represented its greatest rise?since Jan. 2 and its?highest close last seen in November 2000.
The VIX closed at 12.36, down 3.74 percent.
Before the market close, Mark Sebastian wrote?earlier in the day, “VIX Points Toward More of the Same.” He noted the lack of movement in the VIX and suggested a trade for these market conditions.?
Over at The Wall Street Journal, after the options market started with a meh toward earnings season on Monday, it appears to have woken up, notably in Microsoft options.
Kaitlyn Kiernan noted that with the recent 6 percent rally in Microsoft, options traders have taken note and on Wednesday, they placed their bets on the stock doubling down as it approaches the summer. April and June call options were getting snapped up with expectations that shares could increase over the upcoming 1 1/2 to 10 1/2 weeks.
Adding to its appeal is the company’s earnings report next week.?