The Dow logged its best session in about a month
Wall Street's IPO market -- and a healthy batch of economic readings -- helped stocks stage a rally today. Investors cheered the debut of Arm (ARM) on the Nasdaq, which jumped triple digits. Meanwhile, the Dow added more than 330 points for its best session in a little over a month, while the S&P 500 also finished substantially higher.
Continue reading for more on today's market, including:
- Historically bullish signal has never let retail stock down.
- Bull note helps e-tail stock recover from multi-year lows.
- Plus, interest rate decision on deck; homebuilder readies for earnings; and Warren Buffett bearish on HPQ.
5 Things to Know Today
- According to a court filing, Hunter Biden, son of U.S. President Joe Biden, was indicted today on three criminal counts related to his possession of a firearm. (CNBC)
- Iconic German sandal and clog maker Birkenstock is going public, with plans to list on the New York Stock Exchange (NYSE) as BIRK. (MarketWatch)
- Interest rate decision on deck next week.
- Homebuilder stock ready to build on 2023 gains.
- Warren Buffett losing faith in this tech stock?
There were no notable earnings reports today.
Oil Prices Mark $90 Close
Oil prices finally cleared a $90 per barrel close for the first time this year on supply tightening expectations. Crude for October delivery added $1.64, or roughly 1.9%, to settle at $90.16 per barrel for the day.
After yesterday hitting a three-week low, gold prices posted modest gains. December-dated gold gained 30 cents, or less than 0.1%, to settle at $1,932.80 an ounce for the day.