Wall Street closed Monday higher as investors readied for the Fed's latest meeting minutes and central bank Chair Jerome Powell's Jackson Hole speech -- both of which are slated for later this week. In addition, traders also eyed the first day of the Democratic National Convention (DNC).
The major indexes continued to rebound after a rocky start to the month. The S&P 500 and Nasdaq both scored their eighth-straight daily wins, the latter with a 245-point pop, while the Dow rose 236 points for its fifth consecutive daily gain.
Continue reading for more on today's market, including:
- Signal says by the dip on this biotech stock.
- Behind FuboTV stock's soaring price action.
- Plus, Estee Lauder's earnings; a chip sector shakeup; and options bears pile on HPQ.
5 Things to Know Today
- California Gov. Gavin Newsom is tackling organized retail crime with 10 new bills. (CNBC)
- One man is dead and six people, including British tech entrepreneur Mike Lynch, are missing after a luxury yacht sank off Sicily. (Reuters)
- Unpacking Estee Lauder's earnings results.
- More competition in the semiconductor sector.
- Why options bears love HP stock.
Gold Prices Remain Near All-Time Highs
Oil futures fell Monday, as investors grew concerned over demand outlook amid heightened tensions in the Middle East. For the session, October-dated West Texas Intermediate (WTI) crude, the new most active contract, fell $1.88, or 2.5%, to close at $73.66 -- a nearly two-week low.
Gold prices remained near record highs today. At last glance, gold for December delivery added 0.1, to settle at $2,540.20.
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