Dow Enjoys Record Close Amid Earnings Barrage

Even more earnings were released today

Deputy Editor
Feb 7, 2024 at 4:28 PM
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Wall Street was higher Wednesday, with the S&P 500 moving closer to the psychologically significant 5,000 level and touching another intraday high. Investors digested another round of earnings results, while high-flying tech stocks surged. In response, the Dow and Nasdaq both turned in triple-digit wins, the former notching a new record close and the latter hitting a more than two-year high.

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

  • The regional bank stock that dragged the sector lower.
  • This retail stock's pullback presents a unique buying opportunity. 
  • Plus, how to play Wall Street's milestones; CVS' quarterly results; and why UBER was dented.

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5 Things to Know Today

    1. Richmond Fed President Tom Barkin told MarketWatch that declining goods prices could be a "head fake" and a rebound might be incoming. (MarketWatch)
    2. General Motors (GM) announced plans to spend $19 billion over the next decade for electric vehicle (EV) batteries sourced from LG Chem. (CNBC)
    3. This is what even levels might mean for Wall Street.
    4. Healthcare giant reported mixed quarterly results.
    5. What made Uber stock skid earlier today.

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    Oil, Gold Prices Edge Higher

    Oil futures logged a minor gain, following a weekly climb in U.S. crude inventories, gasoline declines, and a distillate stockpiles update. For the session, March-dated West Texas Intermediate Crude (WTI) added 55 cents, or 0.8%, to finish at $73.86 per barrel.

    Gold prices were barely changed Wednesday, as investors remained focused on the Fed. April-dated gold inched up 30 cents, or 0.01%, to settle at $2,051.70 for the session.

     

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