The Nasdaq and S&P 500 settled above breakeven
The Dow snapped a four-day win streak on Thursday, as Walmart's (WMT) grim forecast weighed on the blue-chip index. A wider-than-expected drop in import prices for October contributed to today's pessimism, while lackluster manufacturing data did little to ease concerns. Meanwhile, both the Nasdaq and S&P 500 settled just above breakeven, despite struggles for energy and tech stocks.
- Walmart stock brushes off quarterly win.
- How this retail stock won over call traders.
- Plus, behind CSCO's plummet; Goodyear Tire stock upgraded; and oil stock pullback not a cause for concern.
5 Things to Know Today
- Boeing (BA) secured 295 aircraft orders in four days at the Dubai Airshow, amid strong demand for wide-body jets despite safety scandals in recent years. (CNBC)
- Williams-Sonoma (WSM) missed third-quarter revenue estimates and cut its full-year outlook, amid “ongoing consumer hesitancy" on furniture spend. (MarketWatch)
- Disappointing forecast weighs on Cisco stock.
- Why this firm sang Goodyear Tire stock's praises.
- Don't sweat Pioneer Natural Resources stock's pullback.
Oil Prices Plummet Amid Demand Fears
Oil prices extended their decline on Thursday, closing at their lowest level since July as traders worried energy demand would slow down after today's batch of economic data. December-dated West Texas Intermediate (WTI) crude fell $3.76, or 4.9%, to close at $72.90 a barrel for the day.
Meanwhile, gold prices settled higher, as Wall Street continued to bet on the end of the Federal Reserve's interest rate campaign. December-dated gold rose $22.30, or 1.1%, to close at $1,986.60 an ounce for the day.