Investors are turning their attention towards this week's inflation data readings
Stocks settled lower today, the S&P 500 and Nasdaq moving away from record highs after notching their first loss since Election Day. The Dow shed 382 points, pulling back from record levels as post-election optimism wears off and traders turn their attention to this week's consumer and producer price index readings.
Elsewhere, small-cap stocks, which are largely believed to be some of the biggest winners of Trump's victory, were under pressure. The small cap Russell 2000 (RUT) crossed back below the key 2,400 level, turning in just its second loss in eight sessions.
Continue reading for more on today's market, including:
5 Things to Know Today
- The Boeing (BA) strike might be over, but it will take time for production to pick back up. (CNBC)
- Billionaire investor John Paulson is pulling out of contention for U.S. Treasury Secretary. (Reuters)
- Upgrade boosts Twilio stock to two-year highs.
- Okta stock dinged by rare downgrade.
- Breaking down Home Depot's beat-and-raise.
Oil Manages First Win in 3 Sessions
Oil futures rose today after back-to-back losses, though investors continued to ponder what Trump's election victory means for black gold. For the session, December-dated West Texas Intermediate (WTI) crude added 8 cents, or 0.1%, to settle at $68.12 a barrel.
The price of gold hit a nearly two-month low as the dollar strengthened. In addition, a positive outlook for economic growth and the broader market's move lower added more pressure on bullion. At last check, gold futures are 0.5% lower at $2,604.90.