Stocks Close Lower After Oil Prices Hit 2023 High

The Nasdaq fell into the red in the last few minutes of trading

Deputy Editor
Sep 5, 2023 at 4:30 PM
facebook X logo linkedin

Stocks finished a shaky session lower, after overseas oil production cuts sent crude prices to their highest levels since November. While energy stocks trading on the S&P 500 were buoyed by the news, the broader-market index settled lower as airline and cruise stocks crumbled. The Dow turned in a triple-digit loss, while the Nasdaq finished in the red as well.

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

  • Software stock runs into bear signal before earnings.
  • The S&P 500 added a big name today.
  • Plus, more on August's pullback, ORCL's upgrade, and Manchester's sale.

closing summary sep5

nyse nasdaq Sep5

5 Things to Know Today

  1. Employees are returning to Meta's (META) offices following a return-to-office mandate requiring at least three on-site days a week. (CNBC)
  2. After 16 years, Blackstone (BX) went public, the private-equity firm now trading on the SPX. (MarketWatch)
  3. Don't sweat the August rut.
  4. Another upgrade for Oracle stock.
  5. Manchester's sale is in trouble.

There were no earnings of note today.


Crude Bubbles Higher After Production Cut Update

Crude for October delivery added $1.14, or 1.3%, to settle at $86.69 per barrel for the day -- its highest close since November. This comes after Saudi Arabia and Russia decided to extend production cuts through the end of 2023.

Meanwhile, gold futures closed at their lowest level in a week, after dour economic data out of China and Europe, as well as rising bond yields, pressured the precious metal. December-dated gold shed $14.50, or 0.7%, to settle at $1,952.60 an ounce for the day.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI