Stocks continued to rally as geopolitical tensions eased
Stocks extended gains on Thursday, after President Trump alleviated geopolitical fears by backing down on European tariffs and joining forces with NATO to form "a framework" of a future deal regarding Greenland. The Dow added 285 points and wiped this week's losses, while the S&P 500 and Nasdaq settled firmly higher. Investors are still monitoring geopolitical developments closely, with Danish Prime Minister Mette Frederiksen noting she is open to talks with the U.S., but sovereignty negotiations are off the table.
Continue reading for more on today's market, including:
- What investors need to understand about open interest.
- Fed decision looms, with rates expected to stay the same.
- Plus, Alibaba's chip unit plans; DDOG nabs upgrade; and GE's brushes off earnings beat.
5 Things to Know Today
- The Trump Administration started a new immigration operation in Maine. (Reuters)
- Iranian government officials claimed all anti-government protests were terminated. (The New York Times)
- Alibaba considers T-head chip unit restructure.
- Analyst anticipates strong Q4 growth for Datadog.
- GE gaps lower despite upbeat quarterly results.
Gold Prices Continue to Shine
Oil prices declined on Thursday, after President Trump eased up on tariff threats and U.S. tensions with Iran cooled. Front-month West Texas Intermediate (WTI) crude fell $1.35, or 2,2%, to settle at $59.27 per barrel.
Gold prices topped $4,900 for the first time, with geopolitical concerns, a weaker U.S. dollar, and interest rate cut expectations putting the yellow metal in focus. February-dated gold futures added 1.6% to settle at $4,913.40 per ounce.