Stocks rally to new highs of the year

Yesterday stocks moved back and forth after the Fed decision.

But today stocks moved in just one direction - UP!

The S&P and NASDAQ finished at new highs for the year. And with today's gains, the S&P is back within 2.9% of its all-time high.

The DOW had its best day in a month. But the DOW still trades below its 2019 high set almost a month ago on February 25th.

Here's where the major indices ended the day:

• The S&P finished with a 1.1% gain. Up 31 points, the S&P ended at 2,855.
• The DOW ended higher by 0.8%. Adding 217 points, the DOW closed at 25,963.
• The NASDAQ was up 1.4%. With a 110 point gain, the NASDAQ finished at 7,839.

Crude Oil (CL) flirted with the $60 mark for most of the day before finishing slightly lower. Down 0.5%, CL ended at $59.95 a barrel.

Apple's (AAPL) impressive rally continued today.

With a 3.7% gain, Apple took back its spot as the world's most valuable company. Apple is up a whopping 24.2% this year, with almost half of the move coming in March (up 12.7% in March). Traders are anxiously awaiting a press event on Monday, where Apple is expected to unveil a new streaming service.

There were a few big earnings move as well.

Micron (MU) saw a 9.6% gain after reporting better than expected earnings. Conagra Brands (CAG) rallied 12.8% after an earnings beat. And Darden Restaurants (DRI), the owner of Olive Garden restaurants, was up 6.9% after strong numbers.

But investors in Biogen (BIIB) weren't smiling today. The stock was hammered, losing 29.2% after discontinuing trials for a drug that investors hoped would help treat Alzheimer's.