The Dow rose triple digits
Wall Street pulled off a strong rebound on Monday, despite rising oil prices. The Dow managed to turn around its steep premarket losses to finish the day with a triple-digit gain, while the Nasdaq and S&P 500 turned in respectable wins as well. Globally, the war between Israel and Hamas remains in focus.
- Options traders called this bank stock's dip.
- Pharmaceutical stock tanks after $5.8 billion acquisition.
- Plus, brokerage tells SPOT to stay in its lane; DIS' biggest investor; and ARM's bull note barrage.
5 Things to Know Today
- The escalation of the Israeli-Palestinian conflict is putting pressure on U.S. House Republicans to vote to select a new speaker. (CNBC)
- Pakistani-based esports company Gamer Pakistan (GPAK) is the country's first entity to be listed on a U.S. exchange. (MarketWatch)
- Analyst thinks streaming company should stick to music and podcasts.
- Walt Disney has a new primary investor.
- Major Wall Street players make bullish calls on chip stock.
There were no earnings reports of note today.
Oil Futures Soar After Hamas Attack
Oil futures closed at their highest mark in nearly a week, after the Israeli-Hamas war stoked anxieties about crude supply disruptions in the Middle East. For the session, crude for November delivery added $3.59, or 4.3%, to settle at $86.38 per barrel.
Gold prices rose for the second day, with December-dated gold gaining $19.10 to settle at $1,864.30 an ounce.