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Dow Logs Record Close as Investors Digest Fed Minutes

Oil and gold slipped for a second day

Managing Editor
Oct 9, 2024 at 4:29 PM
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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.

Closing Index Summary October 92024

NYSE and Nasdaq Stats October 92024

5 Things to Know Today 

  1. Tornados and heavy wind and rainfall ushered in the beginnings of Hurricane Milton on Florida's west coast. (CNBC)
  2. Software giant Palantir (PLTR) is nearing an impressive milestone: the $100 billion market cap. (MarketWatch)
  3. Short squeeze may be in store for blogging name.
  4. Mining stock's slump isn't over yet.
  5. A pair of cheap stocks making moves today.

There were no earnings of note today.

Unusual Options Activity October 92024

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.

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