Wall Street Rallies on Strong IPO Market, Economic Data

Oil prices closed above $90 for the first time in 2023

Deputy Editor
Sep 14, 2023 at 4:27 PM
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Wall Street's IPO market -- and a healthy batch of economic readings -- helped stocks stage a rally today. Investors cheered the debut of Arm (ARM) on the Nasdaq, which jumped triple digits. Meanwhile, the Dow added more than 330 points for its best session in a little over a month, while the S&P 500 also finished substantially higher. 

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

  • Historically bullish signal has never let retail stock down.
  • Bull note helps e-tail stock recover from multi-year lows.
  • Plus, interest rate decision on deck; homebuilder readies for earnings; and Warren Buffett bearish on HPQ.

closing summary sep14

nyse nasdaq sep14

5 Things to Know Today

  1. According to a court filing, Hunter Biden, son of U.S. President Joe Biden, was indicted today on three criminal counts related to his possession of a firearm. (CNBC)
  2. Iconic German sandal and clog maker Birkenstock is going public, with plans to list on the New York Stock Exchange (NYSE) as BIRK. (MarketWatch)
  3. Interest rate decision on deck next week.
  4. Homebuilder stock ready to build on 2023 gains. 
  5. Warren Buffett losing faith in this tech stock?

There were no notable earnings reports today.

uvol sep14

Oil Prices Mark $90 Close 

Oil prices finally cleared a $90 per barrel close for the first time this year on supply tightening expectations. Crude for October delivery added $1.64, or roughly 1.9%, to settle at $90.16 per barrel for the day.

After yesterday hitting a three-week low, gold prices posted modest gains. December-dated gold gained 30 cents, or less than 0.1%, to settle at $1,932.80 an ounce for the day. 

 

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