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New: Introducing “Why Is It Moving?” - lightning-fast, AI-driven explanations of stock moves
All three major benchmarks scored fifth-straight gains today in addition to record closes, with the Dow in the midst of its longest win streak since May, while the S&P 500 is now enjoying its best run since July.
Nvidia (NVIDA) powered today's tech rally, as traders monitored the ongoing government shutdown, with Senators expected to vote on funding once again tomorrow. Due to the shutdown, the nonfarm payrolls report for September has been postponed.
Continue reading for more on today's market, including:
Oil prices tumbled for a fourth-straight session today, to their lowest level in four months. Investors are worried about oversupply, as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) could increase oil production by as much as 500,000 barrels per day next month. November-dated West Texas Intermediate (WTI) crude fell 1.2%, or 73 cents, to $61.05 per barrel.
Gold prices also fell today, pulling back from record highs, after Federal Reserve Bank of Dallas President Lorie Logan struck a cautious tone around future interest rate cuts. Gold futures for December delivery were last seen down 0.8% at $3,868.10 per ounce.
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