The Dow scored yet another record high today before reversing gains and settling with a 293-point loss, bringing its four-day win streak to a sharp end. The S&P 500 notched an all-time high before inching into the red as well, while the Nasdaq eked out a third consecutive daily win thanks to Big Tech gains. Amid the volatility, the Cboe Volatility Index (VIX) scored its first gain in the last five sessions.
Continue reading for more on today's market, including:
- 2 sports betting stocks moving higher.
- Downgrade dings Rivian Automotive stock.
- Plus, HPE upgraded; 2 sinking EV stocks; and behind KB Home stock's pullback.
5 Things to Know Today
- Meta Platforms (META) revealed its latest virtual reality headset, Quest 3S, which will be sold for $299 and is cheaper than its predecessor. (CNBC)
- Levi Strauss (LEVI) is pushing back its goal of generating up to $10 billion in annual revenue by 2027 as consumers grapple with inflationary pressures. (MarketWatch)
- Analyst sings Hewlett Packard stock's praises.
- Why these 2 electric vehicle stocks tumbled today.
- KB Home stock pulled back from record after earnings.
Oil Prices Move Lower; Gold Takes a Breather
Oil prices settled slightly lower on Tuesday, as traders became less enthusiastic over China's stimulus measures and declining weekly crude inventories amid storms in the Gulf of Mexico. November-dated West Texas Intermediate (WTI) crude fell $1.87, or 2.6%, to settle at $69.69 per barrel.
Gold prices settled near breakeven after their recent string of record highs, as investors continued to bet on more interest rate cuts. Gold for December delivery was last seen at $2,677.30.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
