The Dow gave back it's entire midday lead
Stocks swung wildly in February's penultimate session, with the Dow reversing a triple-digit midday gain to close more than 193 points lower. The Nasdaq tumbled 530 points -- its worst single-session loss since December -- while the S&P 500 also slipped, with both indexes logging their fifth loss in six sessions. Not even Nvidia’s stellar earnings report could rescue the battered tech sector, as investors took profits following its recent rally.
Trade concerns over President Trump’s latest tariff plans remained front and center, while economic data added to the uncertainty, jobless claims and GDP figures painted a muddled picture of the U.S. economy. With just one trading day left in the month, all three major indexes remain on pace for steep monthly losses.
Continue reading for more on today's market, including:
- The 25 best stocks to own in March.
- ...and the 25 worst stocks to own in March.
- Plus, Nvidia's earnings report; FCX's bull note; and Salesforce's guidance.
5 Things to Know Today
- The Consumer Financial Protection Bureau dropped multiple lawsuits. (CNBC)
- Foreign aid funding is frozen temporarily. (Reuters)
- Nvidia reported blockbuster fourth-quarter results.
- Behind Freeport-McMoRan stock's upgrade.
- Why Salesforce's guidance was disappointing.
Gold Prices Hit 2-Week Low
Oil futures rose Thursday, rebounding after Trump revoked a Biden-era license allowing Chevron (CVX) to produce oil in Venezuela. The most active April-dated West Texas Intermediate (WTI) crude added $1.73, or 2.5%, to settle at $70.35 per barrel for the day.
Gold prices fell to a two-week low, as a stronger U.S. dollar pressured the safe-haven asset, with investors awaiting key inflation data for clues on the Federal Reserve’s next moves. At last glance, gold's April contract was down 1.4% at $2,890.70 an ounce.