The Dow was unable to cling to earlier gains, paring a triple digit lead from the morning
Wall Street's bounce back efforts were met with mixed results today. The S&P 500 finished modestly higher, while the Nasdaq added 220 points thanks to a stabilizing semiconductor sector. The Dow finished lower, paring a triple-digit gain from the morning. All three major indexes closed well off their morning session highs, as stubborn oil prices and geopolitical tensions in the Middle East remain an overhang. Despite the choppiness, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) retreated back below 20.
Continue reading for more on today's market, including:
- Palantir stock has some loyal fans in the options pits.
- Buy the dip on this rare earths stock.
- Plus, Street-high target for SanDisk; a biotech breaks out; and a look at Adobe before earnings.
5 Things to Know Today
- The U.S. food supply is reportedly safe from the Texas screw worm. (CNBC)
- European leaders are uniting over a potential ceasefire in Ukraine. (Reuters)
- Analysts set a lofty goal for this tech outperformer.
- Biotech stock sends short sellers packing.
- Adobe stock testing key trendline as earnings loom.
There are no earnings reports of note today.
Oil Prices Higher as Middle East Tensions Simmer
Oil prices gained, as the weekend hostilities between Iran and Israel rattle commodities. Black gold pared its larger returns though, after both sides agreed to hold off on further attacks. July-dated West Texas Intermediate (WTI) gained 0.8% to settle at $91.30 a barrel.
Gold prices fell for the second straight session. August-dated gold futures lost 0.3% to settle at roughly $4,352.30 per ounce.