Dow, S&P 500 Avoid 3rd-Straight Loss

The Nasdaq is now stuck in a three-day skid ahead of Nvidia's big earnings report

Deputy Editor
Feb 21, 2024 at 4:23 PM
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Wall Street was choppy on Wednesday. The Nasdaq finished lower for a third-straight day, while the Dow and S&P 500 pared their own losses in the final hour of trading to finish marginally higher. Investors are grappling with the Fed's latest meeting minutes, which indicated the central bank isn't rushing to cut interest rates until it has "greater confidence" that inflation is slowing. Nvidia (NVDA) is slated to report earnings after the close, and the chipmaker has a high bar to clear after it recently overtook Alphabet's (GOOGL) market cap.

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

  • Fintech stock expected to swing wildly after earnings.
  • Our Option Advisor subscribers just doubled their money with DASH.
  • Plus, AMZN joins Dow; WEN downgraded; and the scoop on sports betting stocks.

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5 Things to Know Today

    1. In what could shake out to be the year's biggest proposed merger, Capital One agreed to acquire Discover Financial for $35.3 billion. (CNBC)
    2. The 2-, 10-, and 30-year Treasury yields all rose to nearly three-month highs today. (MarketWatch)
    3. Blue-Chip Shuffle: out with the old, in with the new.
    4. Analysts won't let go of Wendy's earnings miss.
    5. Are sports betting stocks already overplayed?

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    Oil Futures Move Modestly Higher

    Oil prices were modestly higher today, as investors monitored the outlook for crude demand as well as developments in the Middle East. For the session, April-dated West Texas Intermediate Crude (WTI) added 87 cents, or 1.1%, to finish at $77.91 per barrel

    While Spot gold ruse today, precious metal futures stumbled as traders continued to watch the Israel-Hamas War, attacks in the Red Sea, and U.S. monetary policy. April-dated gold shed $5.50, or 0.3%, to settle at $2,034.30 for the session.

     

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