Dow Adds 564 Points; Nasdaq Scores 5 Straight

Tumbling Treasury yields helped boost sentiment

Fernanda Horner

Digital Content Manager

Nov 2, 2023 at 4:28 PM

The Dow added a whopping 564 points on Thursday for its best day since June, as Treasury yields tumbled on hopes that there will be no more interest rate hikes this year. Declining labor costs and a jump in weekly jobless claims contributed to optimism well. The S&P 500 and Nasdaq scored their highest daily percentage gains since April and July, respectively, with the latter jumping triple digits to its fifth consecutive daily win.

Unpacking Roku's big earnings report.
Options traders blasted these 3 stocks.
Plus, why ABNB moved lower; Starbucks' quarterly win; and checking in on this movie theater stock.

5 Things to Know Today
1. The Federal Trade Commission (FTC) alleged Amazon.com (AMZN) founder Jeff Bezos directed a flood of search results with "defect ads" to boost profits. (CNBC)
2. Target (TGT) CEO Brian Cornell said consumers are cutting back on spending due to financial pressures, even on food and beverages. (MarketWatch)
3. Gloomy outlook weighs on Airbnb stock.
4. Options traders target Starbucks stock.
5. Pre-earnings look at movie theater name.
Oil Prices Snap 3-Day Losing Streak

Oil prices snapped a three-day losing streak, with the Israel-Hamas war still in focus. December-dated West Texas Intermediate (WTI) crude rose $2.02, or 2.5%, to close at $82.46 a barrel.

Meanwhile, gold prices saw a modest gain, as investors continued to digest the Federal Reserve's decision to leave interest rates unchanged. December-dated gold rose $6.10, or 0.3%, to close at $1,993.60 an ounce for the day.

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Dow Adds 564 Points; Nasdaq Scores 5 Straight

Tumbling Treasury yields helped boost sentiment

5 Things to Know Today

Oil Prices Snap 3-Day Losing Streak