New tariff threats from President-elect Donald Trump weren’t enough to slow down Wall Street’s momentum. All three major benchmarks logged solid daily wins, the Dow hitting a new all-time high and securing its fifth-straight pop in the process. The S&P 500 also hit a fresh high and ticked its seventh-consecutive win. The Federal Reserve helped offset worries stemming from Trump’s call for lofty levies on Mexican, Canadian, and Chinese goods. In its latest meeting minutes, the central bank said it anticipates more interest rates in the future, though it will do so “gradually.”
Continue reading for more on today’s market, including:
5 Things to Know Today
- A Senate panel report found major U.S. airliners raked in more than $12 billion in seating fees between 2018 and 2023. (CNBC)
- Shares of exchange-traded funds (ETF) that invest in Canadian, Mexican, and Chinese stocks fell following President-elect Donald Trump’s new tariff plans. (MarketWatch)
- How these two retail stocks performed after earnings.
- Kohl’s stock’s no good, very bad day.
- Behind Semtech’s beat-and raise.
Oil, Gold Prices Pullback on Global Conflict Updates
Oil futures broke higher Tuesday, amid reports that Israel and Hezbollah are closer to a ceasefire. For the session, front-month January-dated West Texas Intermediate (WTI) crude added 56 cents, or 0.8%, to settle at $69.50 per barrel.
Geopolitical tensions are keeping gold in check today. Gold for December delivery was last seen 0.1% higher near $2,621.30 an ounce.