Markets Enjoy 4th Day of Gains on Heels of Jobs Data

Oil is on its hottest winning streak since March

Managing Editor
Aug 30, 2023 at 4:31 PM
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The major indexes managed to eke out a fourth-straight daily gain. After a tumultuous monthly performance, investors head into the last day of August trading tomorrow, after spending most of today near breakeven and digesting several bouts of economic and jobs data. Chip stocks aided today's win, including Apple (AAPL) as it sent out invites to its Sept. 12 annual launch conference.

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

  • History says avoid this pharma stock now.
  • How ICE stock could set fire to Wall Street.
  • Plus, 2 equites' outlooks send stocks lower; and bear note drags chip maker.

Closing Indexes Summary Aug 30

NYSE and Nasdaq Stats Aug 30

5 Things to Know Today

  1. Over 280,000 people are without power in Florida as Hurricane Idalia makes its way through the south, now in Georgia. The storm has weakened to category 1, but has already caused two deaths so far. (CNBC)
  2. Cannabis stocks enjoyed a pop this afternoon, after a lead officer at the Department of Health and Human Services asked the Drug Enforcement Agency Administrator to have marijuana reclassed as a Schedule III drug. (Bloomberg)
  3. Weak forecast sends tech giant lower. 
  4. Downgrade slams semiconductor stock.
  5. Lackluster guidance triggers Box stock bear note.

Corporate Earnings Aug 30

Unusual Options Activity Aug 30

Gold, Oil Log Notable Daily Wins

Following a drop of 10.6 million barrels for last week's crude supplies and concerns surrounding the impact of Hurricane Idalia, oil saw a lift in prices. The now front-month, October delivery added 47 cents, or 0.6%, to settle at $81.63 per barrel, settling at a more than two-week high to log their fifth-straight win -- the longest streak since March.

Weakening bond yields and a lower U.S. dollar sent gold futures to their highest settlement since Aug. 4. December-dated gold added $7.90, or 0.4%, to settle at $1,973 an ounce.

 

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