Dow, Nasdaq Bounce Back With Triple Digit Wins

The Nasdaq logged a record close

Managing Editor
May 14, 2024 at 4:25 PM
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Stocks got back to their winning ways today, with the Dow and Nasdaq securing triple-digit pops, the latter logging a record close. After some midday waves that followed the hotter-than-expected producer price index (PPI), Wall Street eventually found its sea legs thanks to the downwardly-revised wholesale prices reading. Now, investors shift their focus to the consumer price index (CPI) report due out tomorrow morning. 

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

  • Target bank stocks as election day nears. 
  • Defense stock scores bulls big win. 
  • Plus, SAM upgraded; an ABNB entry point; and unpacking Alibaba's earnings.

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NYSE Nasdaq 0514

5 THINGS TO KNOW TODAY

  1. U.S. President Joe Biden is rolling out new tariffs against China. (MarketWatch)
  2. Commercial property is getting some big investors. (Reuters)
  3. Beer stock has at least one fan.
  4. Buy the dip on Airbnb stock.
  5. Call traders unfazed by Alibaba earnings.

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UVOL 0514

Black Gold Falls to Nine-Week Lows

Oil prices drifted toward nine-week lows today, after the Organization of the Petroleum Exporting Countries (OPEC) left its demand forecast unchanged for 2024. with June-dated West Texas Intermediate (WTI) crude shed $1.10, or 1.4%, at $78.02 a barrel.

Gold prices rose today, taking their cues from the PPI report. June-dated gold futures added 0.6%, to trade at $2,356.70 per ounce.  

 

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