The Nasdaq and S&P 500 finished higher
Stocks were volatile ahead of tomorrow's highly-anticipated consumer price index (CPI) reading, which traders will be watching for clues regarding the Fed's upcoming interest rate decision. The Dow pared a triple-digit loss but still settled slightly below breakeven, while both the S&P 500 and Nasdaq finished higher. A handful of Big Tech stocks were notably lower today, including chip giant Nvidia (NVDA), which finished the day down 2%.
Continue reading for more on today's market, including:
- 2 reasonably priced stocks that received upgrades today.
- Options traders target China-based stock amid fresh highs.
- Plus, PFE's trial news; ALLY upgraded; and more volatility could be ahead.
5 Things to Know Today
- Moderna's (MRNA) vaccine trial showed its treatment could work outside of its melanoma target. The stock jumped over 6% today in response. (Marketwatch)
- Australian billionaire Gina Rinehart's mining firm took a 5.3% stake in U.S.-based MP Materials (MP). (Reuters)
- Pfizer's latest RSV vaccine trial data boosted the stock.
- Analyst expects Ally Financial earnings to surpass expectations.
- These 2 indicators are pointing at potential volatility ahead.
There were no earnings of note today.
Oil Moves Lower, Gold Hits Another Record
Oil prices fell for the second day, after yesterday snapping their six-day win streak, as traders continue to monitor tensions in the Middle East. May-dated West Texas Intermediate (WTI) dropped $1.20, or 1.4%, to settle at $85.23 a barrel.
Gold extended its record-setting run today, with June-dated U.S. gold futures closing up 0.4% to $2,360.70 per ounce.