Wall Street Bounces Back After Dismal Session

Oil prices turned in their first loss in eight sessions

Deputy Editor
Feb 14, 2024 at 4:24 PM
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Wall Street recouped some of yesterday's steep losses with a mini-rally today. The tech-heavy Nasdaq led the way, adding triple digits after Nvidia (NVDA) overtook fellow "Magnificent 7" member Alphabet's (GOOGL) market capitalization. The Dow finished with a triple-digit pop of its own, while the S&P 500 finished more moderately higher. Elsewhere, the VIX erased nearly all of Tuesday's gains.

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

  • It's time to buy this technology stock.
  • How options players and analysts played Airbnb's earnings.
  • Plus, KHC falls post-earnings; LYFT's breakout; and trouble ahead for the SPX?

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5 Things to Know Today

    1. Mortgage rates moved higher once again. (CNBC)
    2. Uber (UBER) just unveiled its first-ever share-buyback program. (MarketWatch)
    3. Inflation is putting extra weight on food stock.
    4. Earnings gave rideshare stock a lift.
    5. Options traders lined their pockets with this crypto stock.

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    Oil Snaps Impressive Winning Streak

    Oil prices snapped their seven-session winning streak following a reported that showed a 12 million-barrel weekly rise in domestic commercial crude inventories. What's more, data showed that gasoline and distillate stockpiles declines. For the session, March-dated West Texas Intermediate Crude (WTI) lose $1.23 cents, or 1.6%, to finish at $76.64 per barrel.

    Spot gold dipped below the $2,000-per-ounce mark on Wednesday, as investors continues to fret over the Federal Reserves interest rate outlook. The most active April-dated gold lost $2.90, or 0.1%, to settle at $2,004.30 for the session.

     

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