Tech outperformance has the Dow in recovery mode today
The tech sector continued to drive gains on Wall Street, all three major indexes marking a second consecutive daily win. The S&P 500 managed to strike a fresh record high as well, while investors eyed today's release of the Fed's September meeting minutes. The minutes revealed a large "majority" were in support of a substantial rate cut, though some doubt did surface. For the session, the Dow finished 431 points higher -- solidifying a new record close.
Continue reading for more on today's market, including:
- Looking ahead as earnings season kicks off.
- Pet e-tailer running higher on bull note.
- Plus, blogger short squeeze looming; mining slump could continue; and 2 cheap stocks making big moves.
5 Things to Know Today
- Tornados and heavy wind and rainfall ushered in the beginnings of Hurricane Milton on Florida's west coast. (CNBC)
- Software giant Palantir (PLTR) is nearing an impressive milestone: the $100 billion market cap. (MarketWatch)
- Short squeeze may be in store for blogging name.
- Mining stock's slump isn't over yet.
- A pair of cheap stocks making moves today.
There were no earnings of note today.
Gold, Oil Continued Pullback
Falling for a second session, November-dated West Texas Intermediate (WTI) crude continued to ease from its recent highs and logged its lowest close in a week today. Weighing on the commodity was inventory data that showed 6 million barrels added last week. Crude fell 33 cents, or 0.5%, to settle at $73.24 per barrel for the day.
Gold suffered a sixth day in the red, as the U.S. greenback strengthened and investors took in today's Fed minutes. Gold for December delivery is off 0.3% to trade at $2,626.90, at last glance.