Major Indexes Eke Out Gains Within Minutes of Closing Bell

Both oil and gold struggled today

Managing Editor
Aug 14, 2023 at 4:32 PM
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Today all three indexes managed to close higher -- some turning black within minutes of 'last call.' The Dow and S&P 500 eked out modest gains, while the tech-heavy Nasdaq enjoyed a triple-digit pop. Price drops to Tesla's (TSLA) China Model Y unit and focus on upcoming consumer data had stocks struggling for direction most of the day. 

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

  • Steel stock breaks out on merger rejection.
  • 'Top Pick' already an options favorite.
  • Plus, downgrade slams retailer; busted biotech; and options bears may need to wrestle soon.

Closing Indexes Summary Aug 14

NYSE and Nasdaq Stats Aug 14

5 Things to Know Today

  1. Following a settlement in a fraud and misconduct case, UBS will pay civil penalties worth $1.4 billion. (CNBC)
  2. Amazon.com (AMZN) lost its backing from the United Nations-supported, Science Based Targets initiative, after failing to abide by carbon emission requirements. (Bloomberg)
  3. Pre-earnings bear note slams retail giant.
  4. Votes are in: avoid this biotech.
  5. Time for options bears to throw some boxing gloves on.

There were no earnings of note today.

Unusual Options Activity Aug 14

Gold, Oil Post a Losing Session

After a 7th consecutive weekly win, crude prices inched lower on supply concerns. September-dated oil shed 68 cents, or 0.8%, to settle at $82.51 per barrel.

A strengthening dollar pushed gold lower for another session. December-dated gold lost $2.60, or 0.1%, to settle at $1,944 an ounce.

 

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