Nasdaq Gains 271 Points Amid Tech Rally

The Nasdaq notched its best day since February, while the Dow marked its fourth-straight daily loss

Laura McCandless

Deputy Editor

Apr 11, 2024 at 4:35 PM

Stocks finished the day mixed, after a cooler-than-expected PPI reading provided some relief from yesterday's inflation fears. Investors flocked to tech, pushing the Nasdaq to a 271-point win, its largest daily gain since February. Amazon.com (AMZN) hit a record high, while the Dow, on the other hand, inched below fair value just before the close, notching a fourth-consecutive daily loss. The S&P 500 finished with a modest gain.

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

2 biotech stocks driving the Nasdaq after merger news.
Analyst downgrades Robinhood stock on fundamentals.
Plus, what's on deck next week; why KMX is down; and what Dow member received an upgrade.

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5 Things to Know Today

Japanese Prime Minister Fumio Kishida warned U.S. Congress of tensions in the Asia-Pacific, highlighting China's military strength. (Marketwatch)
O.J. Simpson, former football star and murder suspect, died at age 76 from cancer. (Reuters)
There's a flood of economic data due out next week, as well as the Fed's beige book report.
CarMax stock plummets after disappointing earnings.
Underperforming retailer receives an upgrade.

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Gold Resumes Rise

Oil prices fell today, as investors continue to monitor Iran and Israel. May-dated West Texas Intermediate (WTI) fell $1.19, or 1.4%, to settle at $85.02 a barrel

Gold prices rose, as hopes of interest rate cuts regained footing following today's PPI data. At last check, June-dated gold futures were up $32.40, or 1.4%, at $2,381.10 per ounce.

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