The Nasdaq extended its winning streak to five
Stocks stalled on Thursday, closing right around breakeven after a massive midday slump that followed a rise in the 10-year Treasury note. Investors also digested today's consumer price index (CPI) reading that came in at a slightly higher-than-expected 0.3%. The Nasdaq's marginal win resulted in it scoring its fifth consecutive gain, while the Cboe Volatility Index (VIX) turned in its fifth-straight daily drop, its longest losing streak since November.
Continue reading for more on today's market, including:
- Why this pharma stock should be on bulls' radar.
- 3 crypto stocks that popped on Bitcoin news.
- Plus, Lennar's earnings; Chewy's upgrade; and Yum! Brands' bear note.
5 Things to Know Today
- Google revealed layoffs plans that will dent the company's central engineering, hardware, and Assistant teams. The cuts will impact several hundred employees, still less than the company's 12,000 person workforce slash from last January. (CNBC)
- Boeing (BA) continues to struggle following the 737-9 Max incident, with shares taking a step back after the Federal Aviation Administration (FAA) formally launched an investigation concerning the company's safety tests. (MarketWatch)
- Quarterly report failed to boost this homebuilding giant.
- Analyst: buy this pet e-tail stock's dip.
- Downgrade dinged Pizza Hut's parent company.
Black Gold Prices Rise on Middle East Concerns
Oil futures surged Thursday, as rising tensions and shipping threats in the Middle East offset the recent increase in UI.S. crude and fuel inventories. For the session, West Texas Intermediate (WTI) crude for the now most-active front-month March contract added 65 cents, or 1%, to finish at $72.09 per barrel.
Gold futures fell once again, pressured by today's inflation data that boosted the greenback and bond yields. In response, February-dated gold lost $8.60, or 0.4%, to close at $2,019.20 per ounce.