Stocks, for the most part, continued this week's slide, though losses were modest compared to the past couple of days. The Dow looked like it would stage a rebound midday before paring those gains and ultimately barely finishing just above breakeven.
Elsewhere, the S&P 500 logged its fifth-straight loss, its longest losing streak since Oct. 12. The Nasdaq Composite is now on a four-day losing streak as well, while the Cboe Volatility Index (VIX) closed higher for the third consecutive day, and is now up 18.9% since the start of the week.
Continue reading for more on today's market, including:
- Options traders are loving these biotech stocks.
- Investors should keep an eye on these corporate updates.
- Plus, the newest Schaeffer's podcast; analyst praises makeup giant; and two stocks staging post-earnings pops.
5 Things to Know Today
- The head of the Securities and Exchange Commission (SEC) Gary Gensler chimed in on crypto regulations after the recent FTX collapse. (MarketWatch)
- Lensa AI is trending online. The newly popular app, which has gathered a bit of controversy, turns selfies into digital art. (CNBC)
- Our latest podcast details the state of the options industry.
- Estee Lauder stock typically outperforms in December.
- Two stocks boosted by upbeat earnings reports.
There were no earnings of note today.
Oil Extends Lows
Oil prices fell for the fourth day in a row, ending at their lowest settlement for a front-month contract since Dec. 21, 2021. West Texas Intermediate (WTI) crude for January delivery dropped $2.24, or 3%, to settle at $72.01 a barrel.
Gold prices rose for the second day, though still settling below the psychologically significant $1,800 level. February-dated gold added $15.60, or 0.9%, to settle at $1,798 per ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
