The S&P 500 and Dow extended their win streaks
Interest rate cut optimism pushed the Dow to a fresh record high and fourth-straight gain on Monday, ahead of the Federal Reserve's September meeting kickoff tomorrow. The S&P 500 also moved closer to all-time highs on its way to a sixth-straight daily pop, while the Nasdaq snapped a five-day win streak as chip and tech stocks succumbed to a bit of profit-taking. Meanwhile, the Cboe Volatility Index (VIX) saw its first gain in one week.
Continue reading for more on today's market, including:
- Lennar stock nabs pre-earnings record high.
- Industry buzz shines light on 3 cybersecurity stocks.
- Plus, MSTR options pop; bearish coverage for YELP; and what's boosting this chip stock.
5 Things to Know Today
- Amazon.com (AMZN) CEO Andy Jassy wants corporate employees to be back in the office five days a week starting Jan. 2. (CNBC)
- Chipotle Mexican Grill (CMG) is testing its Autocado prototype, a collaborative robot that can cut and core avocados, at a California restaurant. (MarketWatch)
- Options traders keep buying MicroStrategy stock.
- Yelp stock draws bearish coverage on declining usage.
- Semiconductor giant secures billion-dollar federal grant.
There were no earnings of note today.
Gold Hits Record High
Oil prices settled higher on Monday, brushing off disappointing economic data out of China ahead of a key interest rate decision in the U.S. October-dated West Texas Intermediate (WTI) crude added $1.44, or 2.1%, to settle at $70.09 a barrel.
Gold prices notched another record high earlier thanks to a weaker U.S. dollar and interest rate cut hopes. Gold for December delivery was last seen 0.1% lower at $2,607.80, though.