Dow Ekes Out 8 Straight With Another Record Close

All three major indexes extended last week's gains

Deputy Editor
Dec 18, 2023 at 4:23 PM
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Fresh off their seventh-straight weekly wins, all three major benchmarks kicked off the week with gains. The Dow and Nasdaq nabbed eight-straight wins today, the former with yet another record finish and the latter with a hefty gain. The S&P 500 continued its rally as well, marking its seventh day in the black in the last eight sessions. Meanwhile, The National Association of Home Builders' (NAHB) monthly confidence index rose for the first time in five months after mortgage rates fell. 

  • Call traders got ahead of semiconductor news. 
  • Defense stock flashing historically bullish signal
  • Plus, analyst sunny on solar; Illumina selling Grail; and a big-time steel merger. 

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5 Things to Know Today

    1. Amazon (AMZN) is making moves on the sports streaming front, reportedly in talks to invest in Diamond Sports Group. (MarketWatch)
    2. China's iPhone ban is spreading, with more of the country's firms ordering staff not to bring them to work. (Bloomberg)
    3. Solar stock brushes off sector tailwinds
    4. Illumina stock boosted after selling embattled unit.  
    5. Steel stock soars on billion-dollar acquisition.

    There were no earnings of note today.

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    Oil, Gold on the Rise

    Oil prices rose as attacks on shipping in the Red Sea raised supply concerns. West Texas Intermediate (WTI) crude for January delivery rose $1.04, or 1.5%, to settle at $72.47 a barrel. 

    Gold prices rose today amid weakness in bond yields. February-dated gold futures are up $5.00, or 0.3%, at 2,040.70 per ounce at last look.  

     

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