Investors are cautiously awaiting movement from the central bank
Stocks mounted a comeback in the back-half of trading Thursday, with the S&P 500 snapping its four-day losing streak following today's gross domestic product (GDP) revision and jobs data. The Dow and Nasdaq also managed solid wins, though uncertainty surrounding the Federal Reserve's future moves is still dragging investor sentiment.
Continue reading for more on today's market, including:
- Why investors are excited about this pharma stock.
- Options traders eyed these 2 stocks today.
- Plus, behind NVDA's rise; bull note boosts chip stock; and the first week of March.
5 Things to Know Today
- Sam Bankman-Fried, co-founder of crypto exchange FTX, was hit with four new criminal charges. (CNBC)
- U.S. President Joe Biden nominated former MasterCard CEO Ajay Banga to head the World Bank. (Reuters)
- What drove Nvidia stock higher today.
- Rare upgrade pushed this chip stock up the charts.
- Here's how things will kick off in March.
Oil Snaps Six-Day Losing Streak
Oil prices snapped a six-session losing stretch, with April-dated crude futures adding $1.44, or 2%, to settle at $75.39 per barrel. Black gold found support from U.S. gasoline inventories declining, despite a ninth-straight week of rising crude supplies.
Gold futures finished near a two-month low, notching their fourth-straight loss as investors continued to mull over the Fed's latest meeting minutes. In response, April-dated gold shed $14.70, or 0.8%, to settle at $1,826.80 per ounce -- its lowest settlement since Dec. 30.