Investors are eyeing tomorrow's jobs and GDP data
The Dow and S&P 500 snapped their three-day losing streaks on Wednesday, with the former stacking up a 477-point gain. Meanwhile, the Nasdaq rallied in the final hour of trading to settle higher. Wall Street is eyeing tomorrow's jobs and gross domestic product (GDP) data, as well as Friday's personal consumption expenditures (PCE) index, though the market will be closed for the Good Friday holiday. Elsewhere, the CBOE Volatility Index (VIX) saw its first daily loss in four sessions.
Continue reading for more on today's market, including:
- Millions in funding boost Moderna stock.
- Why Robinhood stock hit a two-year high.
- Plus, Dow stock nabs record; Carnival's beat-and-raise; and don't ignore this rare SPX signal.
5 Things to Know Today
- Amazon.com (AMZN) invested another $2.75 billion on artificial intelligence (AI) startup Anthropic, adding to its initial $1.25 billion investment. (CNBC)
- Walt Disney (DIS) and a board appointed by Florida Gov. Ron DeSantis reached a settlement regarding the governance of a special tax district. (Wall Street Journal)
- Blue-chip stock nabs record high on drug approval.
- Carnival stock popped on raised annual revenue outlook.
- Unpacking SPX performance after a run of bullish newsletters.
Gold Extends Rally Ahead of PCE Reading
Oil prices finished lower on Wednesday, but avoided steeper losses after U.S. data pointed to smaller-than-expected weekly jump in commercial crude inventories. May-dated West Texas Intermediate (WTI) shed 27 cents, or 0.3%, to settle at $81.35 per barrel on the day.
Gold prices finished higher, as traders continued to look ahead to the release of the core PCE price index for February. June-dated gold rose $13.50, or 0.6%, to settle at $2,212.70 per ounce on the day.