The Nasdaq logged its worst win streak since October 2022
The Dow edged higher Thursday, reversing some of its early 2024 losses in the wake of optimistic jobs data. Meanwhile, the S&P 500 closed near breakeven, as the Nasdaq posted a fifth-consecutive loss -- its longest such streak since October 2022 -- amid uncertainty concerning the Fed's future interest rate moves.
Continue reading for more on today's market, including:
- EV stock with plenty of technical support.
- Why options traders are excited about Peloton stock.
- Plus, behind Wall Street's bounce-back; 1 chip stock's upgrade; and YETI's bear note.
5 Things to Know Today
- Cannabis stocks jumped again today after the Drug Enforcement Administration (DEA) said it's reviewing a recommendation to change marijuana's Schedule I classification. (MarketWatch)
- Sports media rights have hit new levels after the NCAA and ESPN inked an eight-year deal worth $920 million -- triple their current 14-year deal. (CNBC)
- Revisiting Wall Street's 2023 rally.
- Upgrade helps chip stock snap losing streak.
- Analyst: Yeti stock facing fierce competition.
Gold Prices Rise From 2-Week Lows
Oil futures finished Thursday lower, after U.S. data showed a weekly rise in domestic gasoline and distillate supplies. For the session, West Texas Intermediate (WTI) crude for February delivery erased 51 cents, or 0.7%, to finish at $72.19 a barrel.
Gold prices ran higher, after the U.S. dollar pulled back slightly following today's jobs data. February-dated gold futures rebounded from two-week lows after adding $7.20, or 0.4% to settle at $2,050 per ounce.