The Nasdaq nabbed a triple-digit win of its own
The Dow rose 489 points and nabbed its third-straight win on Tuesday, on the heels of cooler-than-expected consumer price index (CPI) data for October. Plunging Treasury yields helped the Nasdaq to its own triple-digit gain, while the S&P 500 settled firmly higher as well. Today's inflation data sparked optimism on Wall Street, as traders hoped it could bring an end to the Federal Reserve's interest rate hike campaign.
- Alcoa stock's rally will likely be short-lived.
- This crypto stock is getting ready to bounce.
- Plus, NU options pop; unpacking Home Depot's earnings; and analyst sings TTWO's praises.
5 Things to Know Today
- Snap (SNAP) announced a deal with Amazon.com (AMZN) that enables users to shop their ads and check out without leaving the social media platform. (CNBC)
- Nvidia (NVDA) stock nabbed its 10th-straight daily gain after the chip giant announced a H200 chip for artificial-intelligence (AI) workloads. (MarketWatch)
- Nu stock drew options traders' attention before earnings.
- Home Depot stock brushes off lackluster full-year outlook.
- Analyst says big things are coming for this video game stock.
Gold Rises as U.S. Dollar, Bond Yields Tumble
Oil prices were flat ahead of the Energy Information Administration’s (EIA) petroleum supply report, which is due out tomorrow. December-dated West Texas Intermediate (WTI) crude edged 0.04% higher to close at $78.26 a barrel for the day.
Meanwhile, gold prices surged as the U.S. dollar and Treasury yields tumbled following inflation data. December-dated gold rose $16.30, or 0.8%, to close at $1,966.50 an ounce for the day -- its largest single-day gain in nearly one month.