All three benchmarks finished the day higher
The Dow and Nasdaq both added triple digits to start this week, as investors consider the possibility that the Federal Reserve will slow down interest rate hikes following months of monetary tightening. The S&P 500 managed to move back above the psychologically significant 4,000 level, ahead of a week jam-packed with major corporate earnings reports.
Continue reading for more on today's market, including:
5 Things to Know Today
- Spotify sent an internal memo to staff, announcing plans to layoff roughly 600 employees. (CNBC)
- China kicked off the Lunar New Year on Sunday with the biggest celebration since the start of the pandemic, and moved further away from this year's strict Covid-related restrictions. (MarketWatch)
- Western Digital advances merger talks with Kioxia Holdings.
- Why the DOJ is keeping an eye on Abbot Laboratories.
- 3 stocks making moves after upgrades.
Gold Prices Hold Near April Highs
Oil prices were muted on Monday, with March-dated crude falling 2 cents, or 0.1%, to settle at $81.62 per barrel. This comes after black gold closed last week at its highest level since November, as markets continue to contend with the pending restrictions on Russian crude.
Gold futures closed today's session marginally higher, rising from earlier losses to hold near their April highs. February-dated gold added 40 cents, or 0.02%, to settle at $1,928.60 per ounce.