The Nasdaq marked its third-straight record close
The Dow extended its midday deficit, finishing the day down 220 points, while the S&P 500 and Nasdaq -- thanks to data storage maven Oracle (ORCL) -- both clung to modest gains for more record closes,the Nasdaq's third in a row. Wall Street's "fear gauge," the Cboe Volatility Index (VIX), snapped a five-day losing streak.
Investors are broadly optimistic regarding a rate-cut from the Fed next week, especially after this morning's inflation data surprised to the downside, with some traders even considering the possibility of a 50-basis point cut. Tomorrow's highly-anticipated consumer price index (CPI) data will play a key role in central bank rhetoric as well.
Continue reading for more on today's market, including:
5 Things to Know Today
-
Poland shot down a suspected
Russian drone in its air space, the closest it's come to open conflict since WW2. (
Reuters)
- Boeing (BA) reached a tentative deal with its defense workers, which have been on strike since August 4. (Bloomberg)
- What to expect during triple witching week.
- GameStop reported strong results, as Bitcoin (BTC) holdings swelled.
- Novo Nordisk's restructuring plan drawing investor attention.
Oil, Gold Prices Extend Gains
Oil prices continued to rise amid escalating geopolitical concerns. October-dated West Texas Intermediate (WTI) crude climbed $1.04, or 1.66%, to close at $63.67 a barrel.
Gold prices hovered below their record highs from last session. U.S. gold futures rose 0.1% to $3,685.90 per ounce.