All three major benchmarks gave back modest gains from the morning
All three major indexes settled with losses today, brushing off modest midday gains and this morning's upbeat ADP private payrolls data. Despite a softening labor market -- a good sign for the Federal Reserve's interest rate policy -- the Dow and S&P 500 are now mired in a three-day losing streak. Despite the skid, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), was range-bound and remains near annual low levels.
- Bull signal flashing for CME Group stock.
- JP Morgan chiming in on the energy sector today.
- Plus, two credit card stocks in focus; a travel stock for bulls; and PYPL downgraded.
5 Things to Know Today
- Takeaways from the Senate hearing that featured eight big-bank CEO's, including JP Morgan and Morgan Stanley. (Reuters)
- The White House supports allowing the Indigenous nation, inventors of the sport of lacrosse, to compete in the sport in the 2028 Olympics under its own flag. (MarketWatch)
- Why these credit card stocks rose today.
- Airbnb stock has layers of technical support in place.
- Analyst: PayPal stock at risk of "transition year."
Oil Falls for 5th Straight
Oil futures dropped for the fifth-straight session, after U.S. data showed high gasoline inventories. January-dated West Texas Intermediate (WTI) crude fell $2.94, or 4.1%, to settle at $69.38 a barrel -- its lowest level since June.
Gold futures are climbing back toward their recent record highs. At last look, February gold futures were up 0.5% at $2,045.50.