The S&P 500 and Nasdaq nabbed their fourth consecutive daily gains on Thursday, as traders unpacked a producer price index (PPI) for August that met expectations and rotated back into the tech sector. The Dow scored a triple-digit gain of its own as Wall Street grew confident of an interest rate cut next week, while the Cboe Volatility Index (VIX) marked its fourth-straight negative session.
Continue reading for more on today's market, including:
- Call traders respond to Roku stock's upgrade.
- 3 stocks to watch amid falling mortgage rates.
- Plus, GS flashing bull signal; gold stock surges; and what's hurting MRNA.
5 Things to Know Today
- Microsoft (MSFT) hired Carolina Dybeck Happe, who previously held executive positions at GE (GE), as its new executive vice president and COO. (CNBC)
- Delta Air Lines (DAL) issued upbeat guidance and noted it is set to benefit from lower market fuel prices. (MarketWatch)
- Goldman Sachs stock looks ready to bounce back.
- Options traders pounce on surging gold name.
- Cost-cutting measures pressure Moderna stock.
Gold Nabs Record High as Oil Surges
Oil prices settled higher on Thursday as Hurricane Francine continued to disrupt oil and gas output the Gulf of Mexico, though demand concerns contained gains. October-dated West Texas Intermediate (WTI) crude added $1.66, or 2.5%, to settle at $68.97 a barrel.
Gold prices surged to all-time highs, as investors bet on an interest rate cut next week following jobs and inflation data. Gold for December delivery was last seen up 1.4% at $2,542.40 per ounce.
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