Schaeffer's Top Stock Picks for '25

Dow, Nasdaq Settle Over 400 Points Higher

Wall Street is looking ahead to more inflation data tomorrow

Deputy Editor
Aug 13, 2024 at 4:23 PM
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Stocks extended their midday gains, with the Dow and Nasdaq both finishing over 400 points higher -- the latter for its fourth-straight daily win alongside the S&P 500. A softer-than-expected PPI reading gave the market a boost, though investors are looking ahead to tomorrow's highly anticipated CPI data for a clearer inflation picture. The Fed's rate cut timeline remains a hot topic, while Atlanta Fed President Raphael Bostic blew off recession fears at a conference today.

Continue reading for more on today's market, including:

  • Analysts bullish on Walmart stock before earnings
  • Everything traders need to know about stock splits
  • Plus, where sellers may emerge to manage risk; Chipotle's C-suite shakeup; and DELL extends rally.

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5 Things to Know Today 

  1. Plenty of companies lifted their earnings forecasts this quarter, with Eli Lilly (LLY) and Uber (UBER) among those with the largest increases. (MarketWatch)
  2. Ukraine is still advancing into Russia, seizing control of 74 settlements in the Kursk region. (Reuters)
  3. Economic data could pose a short-term risk for bulls. 
  4. Chipotle CEO departs for role at Starbucks. 
  5. Dell stock pops on Barclays upgrade.

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Oil Prices Turn Lower

Oil prices snapped a five-day win streak as concerns of an attack on Israel by Iran faded. September-dated West Texas Intermediate (WTI) crude fell $1.71, or 2.1%, to close at $78.35 a barrel.

Gold prices are hovering near their July all-time highs. U.S. gold futures rose 0.1% to $2,507.50 per ounce.

 
 

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