Stocks struggled for direction ahead of Wednesday's data deluge
Stocks closed Monday mixed, as the S&P 500 inched into the black while investors awaited Wednesday's onslaught of economic data that could indicate the chances of a recession. Meanwhile, the tech-heavy Nasdaq lagged today, and the Dow eked out a modest win.
Continue reading for more on today's market, including:
- Bearish trendline threatens PayPal stock.
- Put traders cash in on banking giant.
- Plus, popping semiconductor stock; rare downgrade to watch; options traders circle big-name finance stock.
Things to Know Today
- The latest in electric vehicle (EV) technology is coming out of Warren Buffett-backed Chinese EV name BYD. (CNBC)
- Following a blowout Easter opening for new hit film “The Super Mario Bros. Movie," AMC Entertainment (AMC) shares surged more than 30% in three days.(MarketWatch)
- Semiconductor enjoys boost after rival production cut.
- Rare downgrade just hit Block stock.
- Options traders circle this notable finance name.
There were no earnings of note today.
Oil Shifts Back Below $80
U.S. oil prices moved back below the round $80 mark, as energy traders await the incoming economic data. For the session, May-dated crude fell 96 cents, or 1.2%, to close at $79.74 per barrel.
A strengthening U.S. dollar and "profit taking" sent gold futures lower. June-dated gold dropped $22.60 or 1.1%, to settle at $2,003.80 today.