S&P 500 Logs Longest Losing Streak Since October

Oil eked out a daily win

Deputy Editor
Apr 18, 2024 at 4:24 PM
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Stocks finished the day mixed, as investors continued to muse over the Fed's interest-rate hike timeline while unpacking the latest corporate earnings reports. The Dow inched higher for its second win in the last nine sessions, while the Nasdaq and S&P 500 each notched a fifth consecutive loss. For the Nasdaq, that's its longest daily losing streak since January, while the S&P 500 marked its longest since October. 

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

  • 2 stocks moving sharply lower after earnings
  • Duolingo stock will be added to this midcap index
  • Plus, plenty on tap next week; TSM's move lower; and analyst doubles EBAY's price target. 

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5 Things to Know Today

  1. The 30-year mortgage rate is up 22 basis points in the last week, hitting its highest level since November. (MarketWatch)
  2. Penny stock 23andme (ME) soared after CEO Anne Wojcicki said she's considering taking the company private. (Bloomberg) 
  3. Flood of earnings reports due out next week, along with CPE data. 
  4. The latest earthquake in Taiwan dents chip stock
  5. Analyst: eBay stock is undervalued compared to its peers. 

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Oil Breaks Losing Streak

Oil prices snapped a three-day losing streak, amid news that the U.S. will reinstate sanctions on Venezuela. Investors are also continuing to monitor tensions in the Middle East. May-dated West Texas Intermediate (WTI) rose 4 cents, or nearly 0.1%, to settle at $82.73 a barrel. 

Gold prices inched toward Friday's record highs, with June-dated gold futures settling 0.4% higher at $2,397.30 per ounce.  

 

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