Wall Street wrapped up another winning session, with the Dow, the S&P 500, and the Nasdaq all notching gains. The S&P 500 continued its winning streak, securing a third consecutive victory and reaching a fresh record high alongside the Nasdaq. The day’s market activity was characterized by a cautious tone as investors awaited Nvidia’s earnings call post-market close. Additionally, market participants were dissecting comments from Fed Governor Christopher Waller, emphasizing the need for sustained inflation data before considering interest rate adjustments.
Today’s trading day marked another milestone for the S&P 500 and Nasdaq, delivering buoyant gains amid a backdrop of uncertainty and anticipation.
5 Key Highlights from Today
- Microsoft’s collaboration with Khan Academy to provide free AI training for U.S. teachers made waves in the tech realm.
- Former U.S. President Donald Trump’s decision to forego testimony in his ongoing hush money trial garnered attention.
- As sentiments waver, analysts weigh in on the trajectory of a cybersecurity stock.
- Retail stocks soar post-earnings, riding high on a beat-and-raise performance.
- The downgrade of Toast stock casts a shadow over its trading trajectory.
Gold Market in Focus as Prices Hold Firm at $2,400
The Biden administration’s efforts to address rising gas prices included a plan to release 1 million barrels of gasoline from the Northeast Gasoline Supply Reserve. However, amidst concerns over interest rates and demand projections, June-dated West Texas Intermediate (WTI) crude fell by 0.7% to $79.26 per barrel.
Meanwhile, gold prices underwent a slight retreat as traders evaluated global economic indicators. June-dated gold closed the session at $2,425.90 per ounce, marking a 0.5% decline.