Dow Cools, Snaps 3-Day Win Streak

All eyes now turn to GDP and inflation data later this week

Managing Editor
Jan 23, 2024 at 4:28 PM
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The Dow made a nearly triple digit move today, just not in the direction it had been going. The blue-chip index shed 96 points, snapping a three-day win streak as blue-chip earnings weighed on Wall Street. The S&P 500 and Nasdaq finished marginally higher for their fourth straight wins, despite trading on both sides of the aisle all day. All eyes now turn to Netflix's (NFLX) earnings report due out momentarily, while investors also await gross domestic product (GDP) and inflation data later this week. 

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

  • Subscribers scored a 100% profit on this software stock.
  • Our top 2024 stock picks report is out! Click here to access them all. 
  • Plus, two Dow earnings to unpack; and a bearish signal for BMY.

closing summary jan23nyse nasdaq jan23

5 Things to Know Today

    1. Home buyers aren't in the clear yet; rent still rules the roost. (MarketWatch)
    2. The United Nations (UN) is voicing artificial intelligence (AI) concerns. (CNBC)
    3. Procter & Gamble stock quietly keeps chugging.
    4. Defense stock on the upswing after earnings. 
    5. Steer clear from this drug stock.

    Earnings Jan23

    UVOL Jan23

    Commodities Quiet as Stocks Take a Breath

    Oil prices fell today, after Libya restarted production at its largest oil field. For the session, March-dated West Texas Intermediate Crude (WTI) dropped 39 cents, or 0.5%, to finish at $74.37 a barrel on the day.

    Gold prices climbed, albeit modestly, ahead of Thursday's data dump. At last look, February-dated gold was up $3.60, or 0.2%, to settle at at $2,025.80 for the session.

     

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