All three major indexes closed lower today, the Dow snapping a four-day win streak
Stocks finished firmly lower today, though soundly removed from their intraday lows. Following Wall Street's fifth-straight weekly win, the Nasdaq fell triple digits to start the week, while the Dow and S&P 500 closed more modestly in the red, with the blue-chip index snapping a four-day win streak. Crypto was the talk of the town today, with several stocks getting a halo lift from Bitcoin's 19-month highs.
- Options traders eye Coinbase stock amid Bitcoin buzz.
- The latest airline merger attracting investor attention.
- Plus, Uber joins the SPX; CVNA's big breakout; and LULU hit with downgrade.
5 Things to Know Today
- Eyepoint Pharmaceuticals stock soared over 200% today after positive trial data. (MarketWatch)
- Former U.S. ambassador Manuel Rocha was a secret agent for Cuba for decades. (Reuters)
- Rideshare stock hails fresh highs after SPX inclusion.
- Carvana stock hit with rare upgrade.
- Analyst downgrades retail stock on valuation.
There are no notable earnings to report.
Gold Hits Record Highs
Oil prices moved lower for the third day in a row, extending its losses after the Organization of the Petroleum Exporting Countries and its Allies (OPEC+) announced production cuts at last week's meeting. January-dated West Texas Intermediate (WTI) crude fell $1.03, or 1.4%, to settle at $73.04 a barrel today.
Gold has never been more expensive than it is now, hitting a record level of $2,152.30 per ounce today on hopes that the Federal Reserve will cut interest rates in 2024. At last look, prices retreated, however, with February gold futures down 2.1% at $2,028.00 per ounce.