Wall Street Posts Gains Before CPI Reading

A critical CPI reading is due out tomorrow

Deputy Editor
Feb 13, 2023 at 4:25 PM
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The S&P 500 and Nasdaq snapped back from last week's steep declines, while the Dow tacked on nearly 380 points. Wall Street awaits tomorrow's consumer price index (CPI) reading, which will influence the Federal Reserve's future interest rate moves. Earnings season is also winding down, and, barring recessions, has been the worst in more than 20 years.

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

  • Options traders love this auto stock.
  • Don't sweat Moderna stock's recent pullback.
  • Plus, pharma stock's record lows; Zillow's bull note; and the SPX's current predicament. 

closing summary feb13

nyse nasdaq feb13

5 Things to Know Today 

  1. JPMorgan Chase has been tapped to help Ukraine's post-war rebuilding efforts. (CNBC)
  2. According to Refinitiv Lipper data, investors are pulling out of U.S. equity funds in favor of bonds. (MarketWatch
  3. Pharma stock hits record low after study update.
  4. Why Evercore is bullish on Zillow stock.
  5. The SPX isn't out of the woods just yet.

Earnings Feb13

UVOL Feb13

Oil Prices Close At 2-Week High

Oil futures rose Monday, with March-dated crude adding 42 cents, or 0.5%, to settle at $80.14 per barrel -- their highest level in more than two weeks. This pop comes as investors pondered Russia's plans to cut oil output, and await tomorrow's CPI reading.

Gold prices, meanwhile, closed at their lowest mark in more than five weeks, on fears that more interest rates are to come. April-dated gold shed $11, or 0.6%, to settle at $1,863.50 per ounce today.

 

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