Stocks Pare Midday Slump; Dow Logs Another Record Close

Oil prices broke higher for a fourth-straight session

Deputy Editor
Feb 8, 2024 at 4:25 PM
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Wall Street logged a third-straight win across the board today, with the Dow paring a hefty triple-digit midday loss and scoring another record close. The S&P 500 finished higher but is yet to overcome the 5,000 level for the first time ever, achieving an intraday high of 4,999.89. The tech-heavy Nasdaq, meanwhile, logged a modest win even after bond yields rose, the 10-year Treasury note touching 4.16% earlier today.

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

  • 2 stocks that made big moves after earnings.
  • Why analysts are betting on this casino stock.
  • Plus, an options strategy to consider; Disney's docket; and ARM breaks out.

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5 Things to Know Today

    1. Senators gave the go-ahead signal for debates to open regarding a $95 billion foreign aid package to fund Ukraine, Israel, and Taiwan. (CNBC)
    2. The Federal Communications Commission (FCC) just made robocalls that contain voices generated by artificial intelligence (AI) illegal. (MarketWatch)
    3. How to profit from short call spreads.
    4. Walt Disney has some big plans for the future.
    5. The catalyst for Arm stock's new highs.

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    Oil Prices Log 4th Consecutive Win 

    Oil futures marked their fourth consecutive win, after Israel rejected a proposal made by Hamas for a ceasefire and release of hostages in Gaza. Further heightening tensions in the Middle East, the U.S. killed a militant commander in Iraq. For the session, March-dated West Texas Intermediate Crude (WTI) added $1.60, or 2.2%, to finish at $75.46 per barrel.

    Gold prices continued to be influenced by a firm dollar and higher bond yields.  April-dated gold lost $3.80, or 0.2%, to settle at $2,047.90 for the session.

     

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