AAL

Dow Snaps Winning Streak Ahead of Inflation Data

The blue-chip index scored its fourth-straight weekly win

Deputy Editor
May 13, 2024 at 4:28 PM
facebook X logo linkedin


Wall Street started the week off on an unenthusiastic note, with all three major indexes holding near their midday marks. The Dow settled snapped an eight-day win streak, the S&P 500 finished marginally lower, while Nasdaq logged a modest win. Elsewhere, the Cboe Volatility Index (VIX) logged its first win in nine sessions.

In other news, a New York Federal Reserve survey showed consumers last month upped their price increase expectations for the near- and long-term, while cocoa prices fell more than 19% today, marking their biggest single-day decline since 1980.

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

  • Retail traders eye meme stocks once again.
  • Commodity stock flashing historically bullish signal.
  • Plus, new AI chips to monitor; PENN's bear note; and a commodity stock to target.

Summary 0513

NYSE Nasdaq 0513

5 THINGS TO KNOW TODAY

  1. OpenAI launched an updated ChatGPT. (CNBC)
  2. U.S. Airlines are suing to block the Biden administration's new fee transparency rule. (MarketWatch)
  3. Semiconductor firm reveals new chip plans.
  4. Analyst adjusts sentiment on casino stock.
  5. Signal says buy calls on this mining stock. 

There were no earnings of note today.

UVOL 0513

Gold Prices Retreat from Last Week's Highs

Oil prices trended higher today, with June-dated West Texas Intermediate (WTI) crude adding 86 cents, or 1.1%, at $79.12 a barrel. The pop followed signs of soft fuel demand against expectations of production cuts later this year.

Gold prices turned in their worst daily loss of the month, pulling back from Friday's three-week highs after investors moved to take profit ahead of this week's inflation data. June-dated gold futures shed $32, or 1.4%, to trade at $2,343 per ounce today, and gained 2.9% this week.  

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.