Dow Logs 5th Loss in 6 Trading Days

An upbeat tech sector buoyed the Nasdaq today, barely

Managing Editor
Aug 22, 2023 at 4:31 PM
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Wall Street's August drawdown continued another day, with the Dow logging its fifth drop in the last six sessions. The S&P 500 traded on both sides of the aisle throughout the session but ultimately finished lower, as trading buzz simmers from S&P Global's credit rating cut on the banking industry. An upbeat tech sector helped the Nasdaq eke out a win, while retail earnings send Treasury yields toward 16-year highs. 

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

  • Biotech stock breaks through key level.
  • 2 retail stocks in a post-earnings slump.
  • Plus, an EV stock to watch; HD rival pops; and a Nvidia earnings preview.

Summary 0822

NYSE Nasdaq 0822

5 Things to Know Today

  1. Houses were sold at their slowest pace since 2010 for the month of July. (CNBC)
  2. The BRICS Summit kicks off in Johannesburg today. (Reuters)
  3. EV stock lands on 'Best Ideas' list.
  4. Profit beat sends Home Depot rival higher.
  5. Nvidia stock hits pre-earnings peak.

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UVOL 0822

Crude Wavers on China Demand Outlook

Crude prices struggled ,as China demand weighs on the commodity's outlook. September-dated oil fell 37 cents, or 0.5%, to settle at $80.35 per barrel.

The precious safe-haven metal is enjoying its longest win streak in over a month, following a consistent rise in Treasury yields and a weakened dollar. December-dated gold added $3, or roughly 0.2%, to settle at $1,926 an ounce.

 

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