Stocks struggled to find direction in today's trading
Stocks struggled for direction Wednesday, sitting on both sides of the aisle by the time markets closed. Investors await Walt Disney's (DIS) post-close earnings, as well as tomorrow's inflation data. A slide in tech weighed on the Nasdaq, which closed down 162 points. The S&P 500 posted a modest loss and the Dow tumbled triple digits in the final stretch.
Continue reading for more on today's market, including:
- Beverage giant ripe for a short squeeze.
- Technology stock holding key support.
- Plus, behind the Lyft stock slide; video game giant becomes an options favorite; and Disney's latest deal.
5 Things to Know Today
- An emergency order and mandatory evacuations have been put into effect on the Hawaiian island of Maui, as wildfires spread rapidly. Some people have been rescue from the ocean and hundreds of acres have been destroyed. (CNBC)
- General Motors (GM) is slated to launch an all-electric Cadillac, the EscaladeIQ, by 2024. This is a large step in the company's plan to be off gas vehicles by 2030. (Bloomberg)
- Pricing strategy triggers a Lyft stock slide.
- Options pits blasted Roblox stock after earnings.
- Disney inked a deal before its quarterly report.
Gold Falls for 3rd Consecutive Session
A fall in fuel inventories and supply concerns regarding the Russia and Ukraine war sent crude higher. September-dated oil added $1.48, or 1.8%, to settle at $84.40 per barrel.
Gold dropped to a nearly two-week low this afternoon, as all eye remain on tomorrows inflation report. December-dated gold fell $9.30, or 0.5%, to settle at $1,950.60 an ounce, its third-straight daily fall.