Markets continued to charge higher on Wednesday, with the Dow logging a fourth-straight, triple-digit gain and a record close, while the S&P 500 settled at an all-time high despite spending much of the day near breakeven. The Nasdaq also secured gains and a new record as Big Tech earnings approach, including reports from Alphabet (GOOGL) and Microsoft (MSFT), due out after the closing bell tomorrow. Wednesday will also host the last day of the Fed's two-day policy meeting, which is expected to bring another rate cut.
Continue reading for more on today's market, including:
- 'Magnificent 7' check-in: AAPL, MSFT, NVDA.
- Facebook parent enjoys pre-earnings rally.
- Plus, UPS' best day in years; two outperforming fintech stocks; and help Schaeffer's improve!
Gold Plummets to 3-Week Lows
Oil suffered a third-straight daily loss, as U.S. sanctions against Russia remained in focus. Eyes were also on the Organization of the Petroleum Exporting Countries and allies' (OPEC+) potential decision to hike supply output. December-dated West Texas Intermediate (WTI) crude fell $1.14, or 1.9%, to settle at $60.18 per barrel.
The upcoming Fed decision and evolving U.S.-China trade talks pressure gold this afternoon. December-dated gold futures shed 0.9% to $3,983.10 per ounce, a three-week low.
