Nasdaq Suffers Triple-Digit Loss to Start New Year

Oil priced slipped to start the year

Deputy Editor
Jan 2, 2024 at 4:25 PM
facebook X logo linkedin

After a blockbuster 2023, Wall Street started 2024 off on a sour note as all three benchmarks settled mixed. The tech-heavy Nasdaq turned in the steepest loss, shedding 245 points following a bout of profit taking and a slight uptick in interest rates. The Dow and S&P 500 managed more modest moves, while investor's "fear gauge," the Cboe Volatility Index (VIX), closed at its highest level since mid-December.

Continue reading for more on today's market, including:

  • Bitcoin's surge helped this crypto-adjacent stock pop.
  • Cinemark stock suffered after a New Year's bear note.
  • Plus, AAPL's downgrade; Southwest Airlines' fine; and a tip for short-term traders.

closing summary jan2

nyse nasdaq jan2

5 Things to Know Today

    1. Semiconductor stocks suffered a massive selloff today, with the sector's biggest exchange traded fund (ETF), the VanEck Semiconductor ETF (SMH), shedding more than 3%. (MarketWatch)
    2. The death count stemming from the magnitude 7.6 earthquake that struck Japan has risen to 55. The country's markets are closed until Jan. 4. (CNBC)
    3. Magnificent Seven member dinged by downgrade.
    4. More on Southwest Airlines' $140 million fine.
    5. How short-term traders should approach Wall Street's rally.

    There were no earnings of note today.

    UVOL Jan2

    Commodities Commence 2024 Mixed

    Oil futures fell Tuesday, paring earlier gains that followed heightening tensions in the Red Sea. An Iranian warships entry into the waters increased fears of crude-supply disruptions. For the session, West Texas Intermediate (WTI) crude for February delivery shed $1.27, or 1.8%, to finish at $70.38 a barrel.

    Gold prices managed to start 2024 off on a better note, as investors bet on the U.S. Federal Reserve to slash interest rates this year. Today, February-dated gold futures added $1.60, or 0.07%, to settle at $2,073.40 per ounce.


    Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

    This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

    On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

    Start targeting gains like the ones our subscribers have seen recently, including:

    213.3% GAIN on AutoNation calls
    100.0% GAIN on Monster Beverage calls
    100.4% GAIN on Walgreens Boots Alliance puts
    100.4% GAIN on ON Semiconductor calls
    257.7% GAIN on Dell calls

    101.0% GAIN on Apollo Global Management calls
    103.6% GAIN on JP Morgan  Chase calls
    105.3% GAIN on DraftKings calls
    101.3% GAIN on Airbnb calls
    203.0% GAIN on Shopify calls
    102.0% GAIN on Cboe Global Markets calls
    100.9% GAIN on Boeing calls
    102.1% GAIN on Microsoft puts
    102.3% GAIN on First Solar calls
    101.5% GAIN on PulteGroup calls
    101.0% GAIN on Apple calls
    209.4% GAIN on NXP Semiconductors calls
    100.8% GAIN on Uber Technologies calls
    100.4% GAIN on Academy Sports and Outdoors puts
    102.2% GAIN on Trade Desk calls
    100.8% GAIN on DoorDash calls
    100.0% GAIN on Camping World Holdings puts
    100.0% GAIN on Cboe Global Markets calls
    100.2% GAIN on calls
    238.5% GAIN on Oracle calls



    Rainmaker Ads CGI