The Nasdaq shed triple digits
The S&P 500 settled lower on Thursday as Microsoft (MSFT) shares sold off amid slowing cloud growth and soft margin guidance, which triggered a triple-digit loss for the tech-heavy Nasdaq as software stocks struggled. The Dow enjoyed a modest gain, with investors now tuned into Apple's (AAPL) result after today's jobs and trade deficit data. A partial government shutdown also became more likely, too, with the Senate failing to advance a government funding package ahead of Saturday’s deadline.
Continue reading for more on today's market, including:
5 Things to Know Today
- The NORAD pact between Canada and the U.S. may be altered if the former cancels its F-35 order. (The New York Times)
- Venezuela's tanker, which the U.S seized earlier this month, will be returned. (Reuters)
- 2 Big Tech stocks making opposite post-earnings moves.
- Upbeat quarterly report sent CAT stock to record highs.
- Tesla announced a shift in focus to AI and robotics.
Oil Jumps on Iran Strike Talks as Gold Cools
Oil prices shot higher on Thursday as President Trump reportedly considered military strikes on Iran, which may lead to crude supply disruptions. March-dated West Texas Intermediate (WTI) crude was up $1.59, or 2.3%, to $69.99 per barrel.
Gold prices fell, putting an end to the safe-haven rally as investors took profits, though the precious metal remains on track for its best monthly performance since the 1980s. February-dated gold futures slid 0.3%, to end at $5,318.40 per ounce.