Nasdaq Snaps Losing Streak; Dow Dragged Red

Gold logged another daily gain

Managing Editor
Aug 21, 2023 at 4:29 PM
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Early morning optimism for the Dow was short-lived, as the index was dragged into the red by heavyweights Nike (NKE) and Johnson & Johnson (JNJ). On the flip side, the Nasdaq snapped a four-day losing streak and enjoyed its best daily percentage pop since late-July, while the S&P 500 posted a modest gain of its own.

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

  • Puts pop on controversial Hawaiian stock.
  • Hit the jackpot with this Casino stock.
  • Plus, META stock's latest move; read before Zoom earnings; and billion-dollar merger buzz.

Closing Indexes Summary Aug 21

NYSE and Nasdaq Stats Aug 21

5 Things to Know Today

  1. The 30-year fixed mortgage rate hit 7.48% -- its highest level since November 2000. The rate saw a 29-point lift in the last week alone. (CNBC)
  2. Tropical Storm Hilary is expected to continue to cause "catastrophic" damage in Southern California, as well as historic levels of rainfall across the Western-most states. (Bloomberg)
  3. What could be next for the Threads' parent.
  4. Predicting the Zoom stock post-earnings turnout. 
  5. Chip giant jumps on billion-dollar merger.

Corporate Earnings Aug 21

UVol Aug 21

Gold Secures Another Win

Brushing off several days of wins, crude prices backpedaled due to demand worries.  September-dated oil fell 53 cents, or 0.7%, to settle at $80.72 per barrel.

With a continued rise in bond yields, gold scored another session win following a slew of losses. December-dated gold added $6.50, or roughly 0.3%, to settle at $1,923 an ounce.

 

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