S&P 500, Nasdaq Secure 3rd-Straight Record Close

It was another notch in the belt of record closes -- three straight now -- for the Nasdaq and S&P 500 today, as Wall Street enjoyed notable upside movement ahead of, and after, the Federal Reserve Chairman Jerome Powell's speech. On the heels of an unchanged consumer price index (CPI) reading, the Fed unsurprisingly kept interest rates steady, but did note that there has been positive momentum on the inflation front. Despite the overall investor optimism, the Dow gave back sizable gains and ultimately finished in the red.

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

• 3 building stocks to keep an eye on.
• Paramount Global stock sinks on merger disintegration.  
• Plus; the latest AI buzz; Birkenstock downgraded; and HOOD yields big win.

5 Things to Know Today 

1. Following the tragic and fatal bridge collapse back in March, authorities have managed to reopen the Francis Scoot Key Bridge in Baltimore, Maryland. (MarketWatch)
2. Major Southwest Airlines (LUV) shareholders Daniel O’Keefe and Michael McKinnon said they are supportive of the Elliott and Management improvement campaign, which includes replacing CEO Bob Jordan. (CNBC)
3. AI buzz attracts Oracle stock.
4. BIRK's big downgrade did nothing to the stock.
5. Robinhood stock traders land a doubled profit.

Oil, Gold Enjoy Post-Fed Gains

Amid the Fed frenzy and tapping session highs, oil pulled back slightly in response to lower-than-expected CPI data. Nevertheless, July-dated West Intermediate (WTI) crude managed to tack on 54 cents, or 0.7%, to close at $79.32 per barrel.

Also influenced by the Fed's expected rate news, gold futures finished modestly higher as well. The June-dated commodity closed up 0.8% near $2,339.50 an ounce.