Dow Erases Triple-Digit Lead as Nasdaq Enjoys Tech Rally

The Dow was up over 400 points at its session highs today

Digital Content Manager
Mar 23, 2023 at 4:27 PM
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The Dow pared triple-digit gains this afternoon -- and even briefly dipped into the red -- to settle only modestly higher, despite earlier tracking toward its best single-session win since Jan. 6. Regional bank stocks continued to lag, while the tech sector rallied as investors became more confident in cooling Treasury yields and a slower pace of interest rate hikes. The tech-heavy Nasdaq scored its third gain in four sessions, while the S&P 500 also finished higher.

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

Indexes March 232023

 nysenasdaq March 232023

5 Things to Know Today 

  1. Get ready: Short video app TikTok is facing increasing congressional pressure. (Reuters)
  2. More than 148,000 tech sector employees have been let go since the start of 2023 at 505 firms, on track to outpace last year's tech layoffs. (MarketWatch)
  3. Restaurant stock slipped despite hiking guidance.
  4. How to sell options premium in this market.
  5. End of March set to bring economic data deluge.

Earnings March 232023

Unusual Options Activity March 232023

Gold Surges as Oil Breaches $70

Oil prices settled lower on Thursday, slipping back below the $70 mark after just conquering it in the previous session. Lingering concerns over the financial sector weighed on black gold today. April-dated crude shed 94 cents, or 1.3%, to close at $69.96 per barrel on the day.

Gold prices moved sharply in the opposite direction to settle at their highest level in more than a year. Investors rushed to the safe-haven asset after the growing indication that a hawkish Fed could soon wind down its rate hike cycle. April-dated gold rose $46.30, or 2.4%, to settle at $1,995.90 per ounce.

 

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