Stocks somewhat bounced back from yesterday's meltdown, but the rally left a lot to be desired. The Dow snapped its historic 10-day losing streak with a triple-digit pop, while the S&P 500 and Nasdaq finished marginally lower at the bell despite trading higher for the entire day. Despite the gains, all three major indexes finished well off their session highs.
Bank stocks helped drive today's rally, though the 10-year Treasury yield remained above 4.5%. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), retreated after yesterday spiking to its highest level since August.
Continue reading for more on today's market, including:
- Carvana stock hosts intriguing entry point after selloff.
- Homebuilding giant extends recent slide.
- Plus, the best stock on the S&P 500 this year; HIMS cools off; and how to hedge.
5 Things to Know Today
- The U.S. Senate is slated to vote on an important Social Security bill tomorrow. (CNBC)
- Federal land could soon be used to power artificial intelligence (AI). (Bloomberg)
- Boring utility stock quietly tops S&P 500.
- HIMS suffers as weight-loss drug competition heats up.
- Which options strategy is the best to hedge?
January-Dated Crude Slumps into Expiration
Oil prices moved to their lowest settlement in a week today. January-dated West Texas Intermediate (WTI) crude shed 67 cents or 1%, to settle at $69.91 per barrel at expiration. The now front-month February contract shed 64 cents, or 0.9%, to $69.38 a barrel.
Gold prices pivoted lower today, as the safe-haven asset grapples with a more cautious Fed in 2025. For the session, gold for December delivery lost 1.7% to settle at $2,607.50 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
