Stock market sentiment took a hit today with jobless claims and September's CPI
September's consumer price index (CPI) reading drove stocks lower today, while jobless claims indicating a weakening labor market didn't help Wall Street sentiment either. The Dow shed triple digits, pulling back from yesterday's record close. The S&P 500 and Nasdaq, despite brief midday forays into the black, ultimately finished lower as well. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) held, above 20 for the fourth-straight day.
Continue reading for more on today's market, including:
- Celsius stock just logged its best day in months.
- Learn how to trade with Fibonacci levels.
- Plus, Delta earnings analysis; Nike brushes off bull note; and a fintech sector breakdown.
5 Things to Know Today
- All eyes are on Advanced Micro Devices (AMD) after the company revealed its rival Nvidia (NVDA) artificial intelligence (AI) chip, which will function as a GPU named MI325X. (CNBC)
- Federal U.S. regulators have ordered Toronto-Dominion Bank (TD) to pay $3.09 billion in fines after pleading guilty to charges that said the company failed to prevent money laundering. (MarketWatch)
- Delta stock suffers post-earnings dud.
- Upgrade couldn't help lackluster Nike stock.
- Fintech stocks shaking up the sector.
Oil Steps Into Recovery Mode
Oil managed to recover some of its recent losses today, as concerns over Middle East tensions resurfaced, though China demand kept a ceiling on gains. November-dated West Texas Intermediate (WTI) crude added $2.61, or 3.6%, to settle at $75.85 per barrel for the day.
Following the release of CPI data and increased interest in a November rate cut from the Fed, Gold rose in today's trading, snapping a six-day losing streak. Gold for December delivery added 0.5% to trade at $2,6239.30, at last glance.