The Dow rallied in the last hour of trading after struggling for direction at midday, scoring a 106-point gain. The S&P 500 scored a small pop, while the Nasdaq settled slightly below breakeven. Investors unpacked the Federal Reserve's December meeting minutes, which revealed concerns about how President-elect Donald Trump's proposed tariff and tax plans could cause inflation to spike.
In response, the 10-year Treasury yield continued to climb, briefly topping 4.7% -- levels not seen since late April. Meanwhile, the VIX reversed earlier gains to close the session in negative territory.
Continue reading for more on today's market, including:
- 2025 Preview: What these experts have to say.
- Don't go all in on quantum computing stocks yet.
- Plus, SEDG powers down; a weight-loss drug name to watch; and Instacart stock has contrarian potential.
5 Things to Know Today
- Some Trump allies doubt Republicans' strategy for passing tax legislation. (Bloomberg)
- Used vehicle prices are expected to continue stabilizing in 2025. (CNBC)
- Downgrade dims SolarEdge Technologies stock.
- Weight-loss drug stock nabbed a big upgrade.
- Contrarians: Keep an eye on Instacart stock.
Crude Inventories Rise for 7th-Straight Week
Oil futures tumbled Wednesday following a report from the U.S. Energy Information Administration (EIA), which showed commercial crude inventories fell for a seventh consecutive week. Meanwhile, stockpiles of gasoline and distillate rose considerably. February-dated West Texas Intermediate (WTI) crude lost 93 cents, or 1.3%, to settle $73.32 per barrel.
Gold prices nearly hit a four-week high on the back of today's weaker-than-expected ADP employment report. Gold for January delivery gained 0.4%, to settle at $2,676.90 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.
