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.
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Plus, 2 sinking China stocks; fresh name for this MidCap; and 3 weed stocks to watch.

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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.

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