The holiday-shortened week started off with a bang, with all three major benchmarks logging solid wins. The Dow and S&P 500 both hit new record highs, the blue-chip logged a fourth straight win after popping more than 440 points. Today's surge was helped by President-elect Donald Trump's latest cabinet pick.
Trump's pick for Treasury Secretary, hedge fund manager Scott Bessent, helped small-cap stocks surge once more, leading the Russell 2000 Index (RUT) to new all-time highs. In addition, Treasury yields and the U.S. dollar both pulled back, the former dropping more than 14 basis points.
Continue reading for more on today's market, including:
- This retail stock is rallying before earnings.
- Why these 3 EV stocks made big moves.
- Plus, software stock gets a lift; a "top pick" retail stock; and Bath & Body Works' earnings report.
5 Things to Know Today
- Intel (INTC) and the Commerce Department are close to inking a roughly $8 billion grant to support the firm's chip manufacturing expansion. (CNBC)
- U.S. President Joe Biden and French President Emmanuel Macron are expected to announce a ceasefire between Israel and Hezbollah within 36 hours. (Reuters)
- What boosted this software stock?
- Analyst named Target stock a "top pick."
- Bath & Body Works records massive beat-and-raise.
Oil, Gold Prices Pullback on Global Conflict Updates
After spiking last week, oil futures pulled back Monday as investors reacted to more nuclear threats from Russia. For the session, front-month January-dated West Texas Intermediate (WTI) crude fell $2.30, or 3.2%, to settle at $68.94 per barrel.
Gold prices are lower at last glance, on track to snap a five-day winning streak on reports of the Israel-Hezbollah ceasefire. Gold for December delivery was last seen 3.4% lower near $2,620.80 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
