The Dow is now mired in a three-day losing streak
Tech stocks finally showed some weakness today, as Nvidia (NVDA) weighed on the outperforming sector. The Nasdaq took triple digits off Friday's record close, while the Dow clocked its third-straight triple-digit loss. The S&P 500 also finished lower, as profit taking gripped Wall Street. Against this backdrop, the Cboe Volatility Index (VIX) logged its best single-session gain since Nov. 15.
Continue reading for more on today's market, including:
- Nvidia stock isn't perfect, after all.
- Reddit stock shrugs off broad market weakness.
- Plus, fintechs in focus; an oil stock to buy; and Macy's new investing mavens.
5 Things to Know Today
- The Fed's Beige Book is optimistic about the economy in 2025. (MarketWatch)
- The European Central Bank (ECB) may still cut interest rates.(Bloomberg)
- Fintech stocks making moves today after upgrade.
- Exxon-Mobil stock at intriguing entry point.
- Activist investor taking stake in Macy's.
There were no earnings of note today.
Commodities React to China Central Bank Developments
Oil prices rose today, buoyed by both the toppling of Syrian President Bashar al-Assad's regime, as well as China's stimulus measures. The former could keep gains in check going forward though, if any additional instability occurs. For the session, January-dated West Texas Intermediate (WTI) crude added $1.17, or 1.7%, to settle at $68.37 per barrel.
China's renewed efforts to buy gold propped up the safe-haven asset today. For the session, gold for December delivery added 1.1% to settle at $2,688.40 an ounce.