Stocks finished mixed on the heels of yesterday's selloff
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.
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.
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.