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Dow Remains Winless to Start Second Quarter

Stocks are slowly working their way into the second quarter, with the Nasdaq and S&P 500 notching modest wins. The Dow, however, continued its rocky second-quarter start, dropping 43 points after steep triple-digit losses the past two days. 

Despite the better-than-expected ADP employment report, Fed Chair Jerome Powell noted that the overall picture hasn't changed, and that more evidence is needed to cut rates. Investors are also eyeing the ISM services purchasing managers' index (PMI), which fell to 51.4 in March from the previous month's 52.6 -- the second-straight monthly decline and below analyst estimates, though still above the 50-mark that indicates growth. 

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

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5 Things to Know Today

  1. Bloomberg reported that Spotify Technology SA (SPOT) will raise its prices and introduce a new basic tier this year. (Reuters)
  2. In one of a few updates this week, Amazon.com (AMZN) just announced hundreds of jobs cuts from its AWS cloud-computing business. (MarketWatch
  3. Does the S&P 500's stellar first quarter mean more gains to come?
  4. Semiconductor stock downgraded on slow demand. 
  5. Analyst wary of this consumer lending name

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Commodities Continue Their Rampant Runs

Oil prices rose for the fourth consecutive session, as tensions in the Middle East continue to raise concerns. May-dated West Texas Intermediate (WTI) rose 28 cents, or 0.3%, to settle at $85.43 a barrel. 

Gold prices hit yet another record high today following Powell's comments. June-dated U.S. gold futures rose $34.05, or 1.5%, to settle at $2,315.85 per ounce. 

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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