Both the Dow and S&P 500 welcomed a fourth-straight daily win, the latter nabbing another record high, while the blue-chip benchmark enjoyed its highest close since early December. Nvidia (NVDA), Amazon.com (AMZN), and Tesla (TSLA) weighed on the tech-heavy Nasdaq, which spent most of the session near breakeven before settling lower. U.S. President Donald Trump today virtually addressed global leaders attending the World Economic Forum in Davos, Switzerland, pushing for lower interest rates and oil prices.
Continue reading for more on today’s market, including:
- Pricing updates sink EV darling.
- Bear note pressures beverage stock.
- Plus, video game stock sinking; airliner’s post-earnings struggle; and what to expect next week.
5 Things to Know Today
- U.S. mortgage rates for 30-year loans dropped to 6.96% in December, its lowest mark in over a month. (Bloomberg)
- Popular retail stores are closing at the highest rate since the pandemic. (CNBC)
- Electronic Arts stock plummets on FIFA fumble.
- Cloudy forecast pushes aside upbeat airline earnings.
- Get a head start on next week’s economic and earnings docket.
Gold, Oil Mark Session Losses
Oil prices fell for a fifth consecutive session today, after Trump revealed his intentions to ask Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) to lower crude costs. The now most-active, March-dated West Texas Intermediate (WTI) crude fell 82 cents, or 1.1%, to settle at $74.62 per barrel.
The U.S. dollar began to recover, inching higher this afternoon, which pressured gold futures lower. Gold for February delivery dropped 0.7% to settle at $2,750.30 an ounce.