Rallying Tech Sector Boosts Nasdaq, S&P 500

The 10-year Treasury yield took a step back

Deputy Editor
Jan 8, 2024 at 4:28 PM
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Wall Street rose Monday as the broader market looked to rebound from last week's tumble. The Nasdaq gained more than 300 points and the S&P 500 logged a respectable win, as investors bought the dip on tech amid a retreating 10-year Treasury note. The Dow, meanwhile, overcame a midday slump, adding triple digits despite Boeing's (BA) tumble. 

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

  • How options traders responded to another Boeing blunder.
  • Why options traders prefer this beverage stock.
  • Plus, now's the time to hedge; AAL's bull note; and Axonix's M&A news.

closing summary jan8

nyse nasdaq Jan8

5 Things to Know Today

    1. Nvidia (NVDA) unveiled a new "local" artificial intelligence (AI) chips that can run on a PC or laptop from home or an office. (CNBC)
    2. According to Redfin (RDFN), the median asking rent in the U.S. fell 0.8% last month -- the third-straight month rent has dipped. (MarketWatch)
    3. Are you prepared for a short-term pullback?
    4. The airline stock that brushed off sector headwinds.
    5. Breaking down Axonix's billion-dollar buyout.

    There were no earnings of note today.

    UVOL Jan8

    Oil, Gold Futures Fall to Start Week

    Oil futures fell Monday, after Saudi Arabia cut prices to all regions. Further, an OPEC+ survey flashed higher production from its members. For the session, West Texas Intermediate (WTI) crude for February delivery shed $3.04, or 4.1%, to finish at $70.77 a barrel.

    Meanwhile, gold futures fell to a three-week low as investors looked ahead towards this week's inflation data. For the session, February-dated gold futures erased $16.30, or 0.8%, to settle at $2,033.50 per ounce.


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