Wall Street Closes Historic Day on a Down Note

Oil prices popped to a more than 1-week high

Jake Scott

Deputy Editor

May 16, 2024 at 4:24 PM

The broad-market rally took a breather today, even though history was made. Tailwinds from Walmart's (WMT) earnings helped the Dow snag a fresh all-time high and briefly top the 40,000 mark for the first time ever. However, the blue-chip index ultimately closed in the red, as profit-taking and Fed fatigue poured cold water on the achievement later in the session. The S&P 500 and Nasdaq also both fell from intraday record highs as well to close in the red, the latter snapping a three-day win streak.

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

It's time to get ready for Nvidia earnings.
Cisco stock tried to keep the Dow afloat today.
Plus, Warren Buffett's mystery stock; GOOS takes flight; and the tech discount bin.

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NYSE Nasdaq 0516

5 Things to Know Today

Meet Uber Caregiver, a convenient way to get to doctor's appointments. (MarketWatch)
The Supreme Court confirmed the Consumer Financial Protection Bureau (CFPB) has a legal funding structure. (CNBC)
Berkshire Hathaway finally discloses latest purchase.
Earnings helped Canada Goose stock take flight.
2 tech stocks on sale right now.

Crude Prices Bounce Back

Oil futures built on yesterday's bounce, with June-dated West Texas Intermediate (WTI) crude adding 60 cents, or 0.8%, at $79.23 a barrel. This marked the highest front-month finish since May 9.

Gold futures took a step back, with June-dated gold futures down $11 to trade at $2,383.90 per ounce at last check.

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