The Dow and S&P 500 notched a sixth straight win despite muted trading
Stocks extended their win streaks with muted gains on Monday. The Dow and S&P 500 settled slightly above breakeven to close a sixth straight day in the black and notch their best win streaks since July and June, respectively. The Nasdaq pared its heartier gains as rising Treasury yields capped price action, though it still saw its seventh consecutive daily win and longest winning run since January.
- Why this energy stock is raking in bull notes.
- Microsoft stock could soon reach new heights.
- Plus, automotive stock popular in the options pits; Walt Disney gears up for earnings; and analysts chime in on footwear newbie.
5 Things to Know Today
- OpenAI, which is linked to Microsoft (MSFT), today revealed its new GPT-4 Turbo artificial intelligence (AI) model enables thecreation of custom chatbots. (CNBC)
- PepsiCo's (PEP) Chief Financial Officer Hugh Johnston is leaving his post at the beverage giant to take over the same position at Walt Disney (DIS). (MarketWatch)
- Ford stock has been a hit with options traders.
- Checking on Walt Disney stock before earnings.
- Brokerages initiate coverage on Birkenstock stock.
Oil Moves Higher on Extended Output Cuts
Oil prices settled higher on Monday, after Russia and Saudia Arabia extended their output cuts through the end of the year in a largely anticipated move. December-dated West Texas Intermediate (WTI) crude rose 31 cents, or 0.4%, to close at $80.82 a barrel.
Gold prices were lower, as investors turned away from the yellow metal ahead of this week's Federal Reserve comments. December-dated gold shed $12.80, or 0.6%, to close at $1,986.40 an ounce for the day.