The S&P 500 snapped a three-day losing streak
The S&P 500 snapped back from a three-day losing streak on Thursday, and the Nasdaq scored a triple-digit pop after Tesla (TSLA) beat quarterly expectations. The Dow, meanwhile, lost 140 points, extending its losing run to four days after IBM (IBM) shed more than 6% after a revenue miss. Elsewhere, Treasury yields began to ease, with the 10-year note pulling back from three-month highs as investors continued to ponder the path of interest rate cuts.
Continue reading for more on today's market, including:
5 Things to Know Today
- This is why mortgage rates are now back up to almost 7%. (MarketWatch)
- Yum Brands (YUM) is pulling onions from Taco Bell, KFC, and Pizza Hut after an E. coli outbreak across McDonald's (MCD) locations. (CNBC)
- This analyst is avoiding Verizon Communications stock.
- Boeing stock suffers amid potential strike continuation.
- These two biotech stocks made big moves today.
Geopolitical Tensions Bolster Gold Prices
After toeing the breakeven line for most of the session, oil futures closed Thursday lower. November-dated West Texas Intermediate (WTI) crude fell 58 cents, or 0.8%, to settle at $70.19 per barrel.
Gold prices benefited from geopolitical tensions, but palladium -- a rare metal that is mostly used in catalytic converters -- was the talk of the town as the U.S. and several allies considered sanctions on Russian metals. Gold for December delivery tacked on 0.7% to trade at $2,749.10 at last check.