All three major indexes spent time on both sides of the aisle
Stocks struggled for direction today. All three major indexes spent time on both sides of the aisle, as investors processed a drop in February job openings and an ISM manufacturing index reading that suggested a contracting economy. The Dow traded in a 620-point range but ultimately finished marginally lower for its third loss in the last four sessions. The tech-heavy Nasdaq closed modestly higher and the S&P 500 eked out a gain, while Wall Street's "fear gauge," the Cboe Volatility Index (VIX), snapped a four-day win streak.
All eyes remain on tomorrow's scheduled implementation of President Trump's latest round of tariffs, as well as added concerns over the administration's plans to put a 20% levy on all imports into the U.S.
Continue reading for more on today's market, including:
- Food chain lands friendly analyst upgrade.
- Power ranking: Schaeffer's Top 2025 Stock Picks.
- Plus, retailer's overdue post-earnings pop; airline stocks take a hit; and a pair of IPOs you can't miss.
5 Things to Know Today
- ChatGPT parent OpenAI has secured $40 billion in funding from Japanese-based Softbank. (MarketWatch)
- Attorney General Pam Bondi is pushing for the death penalty for Luigi Mangione, following his alleged Dec. 4 murder of UnitedHealthcare CEO Brian Thompson.(CNBC)
- Earnings beat boosts struggling retail stock.
- Analyst pummels major airline stocks.
- Two major IPO's you shouldn't miss.
Oil, Gold Pull Back From Monday Wins
Trump tariff woes continued to add to supply and demand worries for crude, sending the black gold lower for the first day of April. May-dated West Texas Intermediate (WTI) crude was finished down 38 cents or 0.5%, at $71.10, per barrel.
Gold futures are taking a breather after hitting record levels in yesterday's session. At last glance, June-dated gold is off 0.1%, at $3,146 an ounce.