Investors shrugged off cautious commentary from Fed Chair Powell
Stocks resumed their uptrend today, with the all three major benchmarks each scoring record closes. The Dow logged its first-ever close above 45,000, while the tech-heavy Nasdaq marked its eighth win in the last nine sessions. Optimism on Wall Street rang so high today that investors mostly shrugged off comments from Fed Chair Jerome Powell, who suggested caution on interest rate cuts going forward. Despite the gains across the board, the Cboe Volatility Index (VIX) did log its first win since Nov. 20.
Continue reading for more on today's market, including:
- Gold mining stock could finish 2024 strong.
- Drug giant ups the weight-loss stakes.
- Plus, unpacking the air taxi sector; META's bull signal; and ROKU upgraded.
5 Things to Know Today
- Car sales just jumped to three-and-a-half year highs. (MarketWatch)
- The French government is in shambles after a no-confidence vote. (Reuters)
- Air taxi stocks have been red-hot lately.
- Don't miss this META 'buy' signal.
- Buyout prediction makes Roku stock intriguing.
Gold Gains as Jobs Data Keeps Rolling In
Oil prices took a breather today, as investors took profits ahead of the Organization of the Petroleum Exporting Countries and its allies' (OPEC+) production cut decision tomorrow. For the session, January-dated West Texas Intermediate (WTI) crude fell $1.40, or 2%, to settle at $68.54 per barrel.
Gold prices climbed today, buoyed by today's payrolls data and ahead of Friday's jobs report. For the session, gold for December delivery rose 0.3% to settle at $2,652.14 an ounce.