Nasdaq Shakes Off Upbeat Jobs Data, Logs 5-Day Losing Streak

Gold rebounded from its two-week low

Deputy Editor
Jan 4, 2024 at 4:30 PM
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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.

closing summary jan4

nyse nasdaq jan4

5 Things to Know Today

    1. 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)
    2. 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)
    3. Revisiting Wall Street's 2023 rally.
    4. Upgrade helps chip stock snap losing streak.
    5. Analyst: Yeti stock facing fierce competition.

    Earnings Jan4

    UVOL Jan4

    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.

     

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