Dow, Nasdaq Surge Triple Digits as Oil Cools

Oil and gold both cooled

Emma Duncan

Managing Editor

Oct 8, 2024 at 4:28 PM

Oil prices are easing after an impressive multi-day surge amid escalating Middle East tensions, sending markets higher for the day. Wall Street's rebound was welcome after yesterday's finish in the red, with tech stocks leading the charge. Treasury yields also cooled from recent highs as investors look to the upcoming earnings deluge, which will begin with big banks at the end of the week.

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

Bank stock lands pre-earnings upgrade.
25 ETFs to Buy in October.
Plus, 2 sinking China stocks; fresh name for this MidCap; and 3 weed stocks to watch.

Closing Index Summary October 82024

NYSE and Nasdaq Stats October 832024

5 Things to Know Today

Communities in Florida are bracing for Hurricane Milton, the second such storm to strike the state in a week, and one that is supposed to bring $175 billion in damages. (CNBC)
Investors are still digesting U.S. trade deficit data, which showed an 11% drop in August. Historically, a weaker deficit gives gains to gross domestic product (GDP). (MarketWatch)
China stocks pulling back on stimulus news.
The newest name headed onto the S&P MidCap 400.
Three weed stocks to eye before the election.

Oil Cools After Multi-Day Outperformance

After several days of notable gains, November-dated West Texas Intermediate (WTI) crude eased from its recent highs. Crude fell $2.76, or 3.7%, to settle at $77.14 per barrel for the day.

At last check, gold futures are on pace for their worst daily percentage drop in over a month, as employment data lowered the possibility of a rate cut. Gold for December delivery is off 1.2% to trade at $2,635.60, at last glance.

Getting Started With Options:
OPTIONS BASICS

Are you ready to start learning about options, and how to use them for faster profits? Our FREE GUIDE breaks down basic options trading concepts and vocabulary, how options derive their value, advantages and disadvantages, trading mechanics, and more!

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.