Wall Street finished the day in the red
The S&P 500 and Nasdaq took a breather from their extended rally, with both indexes logging their first losses in nine sessions. The Dow also snapped a five-day win streak, as updates from the DNC rolled in and investors eagerly awaited the Fed's latest policy meeting. Meanwhile, the VIX managed to turn in its first win in the last six days, having cooled off from its early-August surge.
Continue reading for more on today's market, including:
- Revisiting this red-hot AI stock.
- Watch these 2 airline stocks amid merger talks.
- Plus, 2 stocks picked up by options traders; Eli Lilly's late-stage study; and a cybersecurity firm's earnings report.
5 Things to Know Today
- Alphabet (GOOGL)-owned Waymo said it is providing more than 100,000 robotaxi rides per week. (CNBC)
- U.S. Secretary of State Antony Blinken arrived in Doha today, continuing efforts to secure a ceasefire in Gaza. (Reuters)
- Options traders loved these 2 stocks today.
- Eli Lilly stock boosted by late-stage study.
- Behind Palo Alto Networks' earnings report.
Oil Prices Log 3rd Consecutive Loss
Oil prices turned in a third-straight loss and closed at their lowest level in two weeks. Worries of a potential slowdown in energy demand around the world and a litany of global political happenings are frightening crude investors. For the session, October-dated West Texas Intermediate (WTI) crude, the new most active contract, lost 49 cents, or 0.7%, to close at $73.17.
Gold prices are extending their record run, moving above the psychologically significant $2,500 level amid a weaker greenback and hopes of an interest rate cut in September. At last glance, gold for December delivery added 0.2%, to settle at $2,545.60.