Wall Street Marks 3rd-Straight Win

Gold and oil both finished the session with sizeable gains

Deputy Editor
Aug 29, 2023 at 4:30 PM
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The major indices logged their third-straight win, though they're still on track to mark dismal monthly performances. Both the Dow and Nasdaq managed triple-digit gains, with the latter eyeing its best day since July as investors continued to flock toward tech amid falling bond yields. The S&P 500 scored its own notable win, which came despite sinking U.S. consumer confidence. 

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

  • Discount retailer's shares surged after an upbeat Q2 report.
  • A federal ruling gave crypto stocks a hefty lift.
  • Plus, Best Buy's earnings; ORCL's AI tailwinds; and what dragged Nio stock.

Closing Indexes Summary Aug 29

NYSE and Nasdaq Stats Aug 29

5 Things to Know Today

  1. Apple (AAPL) is gearing up for its Sept. 12 launch event, where investors hope to see new iPhone models unveiled. (CNBC)
  2. Following a spring cleaning in the tech sector that saw more than 120,000 layoffs, tech workers are lining up for jobs related to artificial intelligence (AI) and machine learning. (MarketWatch)
  3. Unpacking Best Buy's revenue outlook after earnings.
  4. UBS praises Oracle's AI leverage
  5. What weighed on this China's EV leader today.

Coroprate Earnings Aug 29

Unusual Options Activity Aug 29

Gold Closes At 3-Week High

October-dated oil finished at its highest level since Aug. 18, tacking on $1.06, or 1.3%, to settle at $81.16 per barrel. Black gold could come under pressure as energy operations are at the mercy of Hurricane Idalia's current path. 

Gold futures, meanwhile, closed at a more than three-week high, after declining U.S. consumer confidence and job openings weighed on the greenback and Treasury yields. December-dated gold added $18.30, or 0.9%, to settle at $1,965.10 an ounce.

 

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