Dow Drops Another Triple Digits Under Strain of Fed Fatigue

The VIX, meanwhile, climbed higher

Digital Content Manager
Jan 5, 2023 at 4:27 PM
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While today's upbeat private payrolls report might have been good news for some, Wall Street is viewing it as a sign that aggressive rate hikes from the Federal Reserve are far from over. The Dow wound up shedding over 300 points, while the S&P 500 and Nasdaq also suffered steep losses. Meanwhile, the Cboe Volatility Index (VIX) -- Wall Street's "fear gauge" -- is back on the rise after plummeting during yesterday's session. 

Continue reading for more on today's market, including:

  • 3 stocks making big waves today.
  • Checking in with the crypto sector
  • Plus, WDC's merger update; put traders target WBA; and a surging biotech to watch.

Closing Index Summary January 052023

NYSE and Nasdaq Stats January 052023

5 Things to Know Today 

  1. Delta (DAL) announced it will start offering free Wi-Fi to customers, starting Feb. 1. (CNBC)
  2. Federal regulators are pushing to ban companies from making their employees sign noncompete clauses. (MarketWatch
  3. Merger buzz gave Western Digital stocks a boost.
  4. How options players responded to Walgreen's quarterly report
  5. The surging biotech stock to keep an eye on. 

Earnings January 052023

Unusual Options Activity January 052023

Gold Takes a Breather After 4-Day Win Streak

Oil rose after the Energy Information Act (EIA) shared a smaller-than-expected jump in weekly U.S. crude supplies. West Texas Intermediate (WTI) crude for the now most active, February delivery, added 83 cents, or 1.1%, to settle at $73.67 per barrel.

Gold cooled today amid profit taking on the precious metal's four-day win streak. February-dated gold shed $18.40, or 1%, to settle at $1,840.60 per ounce.

 

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