Investors brushed off grim reports from Tesla and IBM
Markets quickly moved into recovery mode despite opening in the red, brushing off IBM (IBM) and Tesla (TSLA) post-earnings underperformance, settling with impressive gains. The Nasdaq and Dow each logged triple-digit pops. The S&P 500 moved higher as well, and closed just shy of a record high.
Meanwhile, White House Secretary Karoline Leavitt said President Trump is slated to meet Chinese President Xi Jinping in South Korea, this time next week. Tomorrow, all eyes will be on the consumer price index (CPI) for September.
Continue reading for more on today's market, including:
- Blue chip gapping lower after earnings.
- Next week brings an interest rate decision.
- Plus, options pop on casino stock; quantum giants to watch; and telehealth stock ready to surge.
5 Things to Know Today
- Car dealerships in Canada have avoided any large blows from the U.S. tariff boom, increasing a modest 0.3% between July and September. (Bloomberg)
- The FBI have arrested over 30 people in an NBA "sports rigging" investigation, which has been linked to gambling and several mafia families. (CNBC)
- Options bulls swarm casino stock.
- Government state talks rally three quantum giants.
- Long-term trendline tends to bode well for HIMS.
Gold Breaks Higher as Safe Haven Demand Increases
Crude futures surged an impressive 5%, after President Trump increased sanctions on two Russian oil companies. December-dated West Texas Intermediate (WTI) crude rose 5.4%, or $3.16, to settle at $61.66 per barrel.
Gold came up for air Thursday, as investors flocked back to safe havens amid increased geopolitical and trade tensions. December-dated gold futures added 2.1%, to close at $4,152.40 per ounce.