With two days of trading left, August's losses look too difficult to overcome
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.
5 Things to Know Today
- Apple (AAPL) is gearing up for its Sept. 12 launch event, where investors hope to see new iPhone models unveiled. (CNBC)
- 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)
- Unpacking Best Buy's revenue outlook after earnings.
- UBS praises Oracle's AI leverage.
- What weighed on this China's EV leader today.
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.