All three major indexes snapped their three-day skids
Wall Street bounced back today, even though stocks lost some momentum toward the end of the session. All three major indexes snapped their three-day skids, as investors cheered resilient Japanese markets and stepped back from fears that the U.S. is on the fast track to another recession.
The Dow added 294 points but was up over 750 points at its session highs, while the Nasdaq gained 166 points. Elsewhere, Wall Street's "fear gauge" fell back to earth, with the Cboe Volatility Index (VIX) shedding 28%, though it still remains relatively elevated.
Continue reading for more on today's market, including:
- Bitcoin (BTC) gives Robinhood stock a pre-earnings push.
- Buy signal flashing for Broadcom stock.
- Plus, two earnings reports to unpack, and some context on Big Tech's pullback.
5 Things to Know Today
- Vice President Kamala Harris tapped Minnesota Governor Tim Walz as her Democratic running mate for the presidential election. (CNBC)
- Mortgage rates hit their lowest level in more than a year. (MarketWatch)
- Behind Lucid stock's post-earnings bounce.
- Why bears piled on Caterpillar sock.
- How to play the tech sector correction.
Oil Prices Rise Despite Middle East Tensions
Oil prices closed slightly higher Tuesday, with commodities regaining some of yesterday's losses as investors kept their eyes on tensions in the Middle East. For the session, September-dated West Texas Intermediate (WTI) crude rose 26 cents or 0.4%, to settle at $73.20.
Gold prices, meanwhile, lost ground today, though they remained above the significant $2,400 level. At last check, December-dated gold futures dropped 0.6% to settle at $2,428.10 per ounce.