The Nasdaq eked out a win after today's choppy session
Today's choppy session ended in wins for two of the major benchmarks. Most notably, the Nasdaq held onto its midday lead after the hot inflation reading failed to drag down tech stocks. The Dow shed 70 points, while the S&P 500 settled modestly above breakeven.
Continue reading for more on today's market, including:
- Options traders doubled their money with this oil stock.
- The big tech stock to keep an eye on right now.
- Plus, UBS' favorite auto stocks, and 2 pharma stocks to watch.
5 Things to Know Today
- Utah Republican Sen. Mitt Romney won't run for re-election next year, he said in a video message to his state's residents. (MarketWatch)
- Google's recruiting organization is taking a major hit, after the company decided to cut hundreds of jobs as part of a broader pullback in hiring. (CNBC)
- UBS initiated coverage on 113 auto stocks.
- Rocket Pharmaceuticals stock popped on FDA news.
- Why options bulls love this pharma stock.
There were no notable earnings reports today.
Gold Prices Tumble to 3-Week Low
Oil prices pared their earlier gains, after today's inflation reading overshadowed a forecast from the International Energy Agency (IEA) that pointed toward a global supply deficit. Crude for October delivery shed 32 cents, or 0.4%, to settle at $88.52 per barrel for the day.
Gold prices fell to a three-week low, after today's inflation reading. December-dated gold lost $2.60, or 0.1%, to settle at $1,932.50 an ounce for the day.