The Dow, S&P 500, and Nasdaq are all secured four-day win streaks
Stocks enjoyed more gains today, with all three major indexes rising for a fourth-straight session, as investors unpacked this morning's inflation data. The Dow jumped triple digits for the third-straight session, closing at its highest levels since January 2022 alongside the S&P 500, while the Nasdaq secured its highest close since March 2022. Ahead of tomorrow's interest rate decision from the U.S. Federal Reserve, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) closed at its lowest level since January 2020.
- 2 travel stocks slide after downgrades.
- Why call traders are blasting Pfizer stock.
- Plus, ZG's latest upgrade; ORCL's weak forecast; and EV news to consider.
5 Things to Know Today
- Hedge funds are suing the U.S. Securities and Exchange Commission (SEC) after new rules related to short selling. (MarketWatch)
- Snapchat+ users are on the rise amid demand for its artificial intelligence (AI) features. (Bloomberg)
- Analyst sees upside for Zillow stock.
- Revenue miss sends cloud stock falling.
- CFO departure weighs on Lucid Group stock.
Oil Hits Lowest in 6 Months
Oil futures dropped nearly 4% at their session lows today, their lowest levels since June due to demand/production outlook. To finish the day, West Texas Intermediate (WTI) crude for January delivery fell $2.71, or 3.8%, to settle at $68.61 a barrel.
Gold prices fell after today's inflation data, with February-dated gold futures dropping 50 cents, or 0.03%, to close at $1,993.20 per ounce.