Wall Street Finishes Quiet Day Mixed

Investors are waiting on inflation data to make a move

Digital Content Manager
May 8, 2023 at 4:34 PM
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Stocks kicked off the week on a quiet note, as investors looked ahead to key inflation data due out later this week. The Dow dropped 55 points for its fifth loss in the last six sessions, while the S&P 500 was flat, and the tech-heavy Nasdaq finished with a modest gain. Elsewhere, the Cboe Volatility Index (VIX) -- also known as Wall Street's fear gauge -- settled at its lowest level in a week.

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

  • Signet Jewelers stock looks ready to polish up.
  • Options bulls are hitting up Meta Platforms stock.
  • Plus, why this oil stock fell; AAL upgraded; and are changes coming to Estee Lauder?

Closing Index Summary May 82023

NYSE and Nasdaq Stats May 82023

 Things to Know Today 

  1. Walt Disney (DIS) expanded its lawsuit against Florida Governor Ron DeSantis after he signed legislation to void the company's development agreements in Orlando. (CNBC)
  2. U.S. President Joe Biden proposed airlines offer cash compensation for flight cancellations or major delays that are within a carrier’s control. (MarketWatch)
  3. Oil stock moved lower on dispelled buyout rumors
  4. Analyst praise pushed American Airlines stock higher.
  5. Possible company changes lifted Estee Lauder stock.

Earnings May 82023

Unusual Options Activity May 8+2023

Oil Prices Still Enjoying Jobs Data Tailwinds

Oil prices settled higher on Monday, as black gold continued to enjoy tailwinds from a red-hot U.S. jobs report. June-dated crude added $1.82, or roughly 2.6%, to close at $73.16 per barrel.

Gold prices finished higher as well, marking their fourth win in five sessions. Investors are keeping an eye on the slew of inflation data due out later this week, however. The June-dated commodity tacked on $8.40, or 0.4%, to close at $2,033.20 an ounce.

 

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