November's CPI data lifted Big Tech stocks
Tech finally bounced back today, with the Nasdaq scoring a record close and toppling 20,000 for the first time ever. November's inflation data met expectations, which was all Big Tech needed to score outsized gains. The S&P 500 turned in a solid win of its own, while the Dow ultimately finished lower after trading on both sides of the aisle throughout the session. The blue-chip index is now stuck in a five-day skid.
Continue reading for more on today's market, including:
- Costco stock needs post-earnings pop.
- What made this biotech stock break out?
- Plus, biotechs buzzing; GM ditches robotaxi; and Duolingo stock downgraded.
5 Things to Know Today
- Keep an eye on European automakers in 2025. (MarketWatch)
- Private equity is coming for the NFL. (Bloomberg)
- 3 more biotech stocks to keep an eye on.
- General Motors stock stalled by robotaxi pivot.
- Analyst pumps the brakes on Duolingo stock.
Gold Cheers Benign Inflation Data
Oil prices climbed above $70, boosted by tailwinds from China and potential U.S. sanctions against Russia. For the session, January-dated West Texas Intermediate (WTI) crude added $1.70, or 2.5%, to settle at $70.29 per barrel.
Gold prices stayed hot after the inflation data and reinforced rate-cut hopes. For the session, gold for December delivery added 1.4% to settle at $2,756.40 an ounce.