Stock clawed their way into positive territory
Wall Street's focus stayed on retail sales data today, which blew past estimates with a 3% rise in January. Despite this green flag for the country's economic outlook, stocks had to claw their way into positive territory, as investors weighed how the Federal Reserve may respond. The Dow added 39 points, while the S&P 500 and Nasdaq eked out wins as well.
Continue reading for more on today's market, including:
- Target this electricity stock for President's Day week.
- How to thread the needle of fun and informative with Schaeffer's Market Mashup podcast ft. Senior Market Analyst Joe Hargett.
- Plus, crypto stock surging; UPS boasting technical support; and unpacking Upstart's revenue win.
5 Things to Know Today
- A new study suggested not all Americans are on board the artificial intelligence (AI) train. (CNBC)
- Tesla (TSLA) CEO Elon Musk said he plans to hire a replacement for his same position held at Twitter (TWTR) by the end of 2023. (MarketWatch)
- Crypto name surges on fresh stake.
- Support is piling up for this delivery stock.
- Lending giant just saw post-earnings breakout.
Oil, Gold See Steep Losses
After a weekly rise in U.S. crude inventories of 16.3 million barrels, per the Energy Information Administration (EIA), March-dated West Texas Intermediate crude settled lower. More specifically, oil futures shed 47 cents, or 0.6%, to finish at $78.59 a barrel.
April-dated gold closed at a fresh five-week low, as the greenback found strength. April-dated gold dropped $20.10, or 1.1%, to settle at $1,845.30 per ounce.