Stocks found some stability after all three major indexes pivoted into the black at midday, buoyed by resilient AI trade and upbeat private sector jobs data. Wall Street then got a late-session boost after the Supreme Court challenged President Donald Trump's tariffs at today's hearing.
Prediction markets saw chances the courts rule in favor of the president's tariffs plummet down to 32%. The pivot seems to have calmed investors, with the Cboe Volatility Index (VIX) logging its largest single-day decline since Oct. 20.
Continue reading for more on today's market, including:
- AMD earnings impress, but was it enough?
- Sports betting stocks have a big week ahead.
- Plus, taser maker sells off; a nuclear energy stock to target; and a survey to fill out.
Rising Crude Inventories Ding Black Gold
Oil prices fell again today, weighed down by a rise in weekly U.S. crude inventories. December-dated West Texas Intermediate (WTI) crude lost $1.45, or 1.6%, to settle at $61.05 per barrel.
Gold prices bounced back today thanks to upbeat jobs data, though the safe-haven asset remains below $4,000. December-dated gold futures added 0.7% to settle at $3,989.80 per ounce.