Nasdaq Clocks Lowest Close Since February

Bond yields and Big Tech earnings gripped Wall Street today

Managing Editor
Oct 25, 2023 at 4:24 PM
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Despite brief forays into the black, the Dow and S&P 500 ultimately finished lower for their fifth loss in the last six trading sessions. As the 10-year Treasury yield tested 5% again, the Nasdaq suffered its worst single-session percentage drop since February, with Alphabet (GOOGL) weighing especially heavy on investor sentiment after a cloud-related post-earnings dip. All eyes are now on tech behemoths Meta Platforms (META) and IBM (IBM), slated to report earnings after the close. 

  • Delivery update dings Boeing stock.
  • Bears enjoyed quick profits off popular e-tail stock.
  • Plus, buy DBX puts now; a "turnaround story" to watch; and small-cap struggles.



5 Things to Know Today

  1. After the historic ousting of former Speaker Kevin McCarthy, the House of Representatives elected Louisiana Republican Rep. Mike Johnson for the role. (CNBC)
  2. New studies have shown flu shots and other vaccinations may reduce the likelihood of developing dementia and Alzheimer's. (Washington Post)
  3. PayPal peer ushers stock toward a steep session slide
  4. Analyst: retail stock the "turnaround story" to watch.
  5. Small-cap struggles could signal big SPX gains.



Oil Snaps Losing Streak Amid Middle East Tensions

Oil prices managed to snap a three-day losing streak, as investors continue to keep tabs on heightening tensions in the Middle East. December-dated West Texas Intermediate (WTI) crude, added $1.65, or 2%, to settle at $85.39 a barrel. 

International conflict and curiosity around the Fed's policy leanings sent Gold futures higher this afternoon. December-dated gold added $8.80, or 0.4%, to settle at $1,994.90 an ounce.



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