The Nasdaq closed above 23,000 for the first time in two weeks today, as tech gains fueled a second day of wins. The index added triple digits alongside the Dow, while the S&P 500 tacked on a healthy win as well, all ahead of the highly-anticipated Nvidia (NVDA) earnings report due out after the bell. Also expected to report are Snowflake (SNOW) and Salesforce (CRM), key components to the AI valuation equation that's plagued Wall Street in recent months.
Continue reading for more on today's market, including:
- Stablecoin demand send Circle stock surging.
- Everything you need to know about ETF trading.
- Plus, NVDA's impact; IBM's analyst backing; and a struggling grocery stock to know.
5 Things to Know Today
- Mortgage Bankers Association showed mortgage rates dropped significantly last week, down to 6.09% from 6.17% for the 30-year fixed-rate contracts. This signifies a four-year low. (CNBC)
- Tariff refunds may be in order, per efforts from Cards Against Humanity's parent company, after the Supreme Court reversed the majority of President Donald Trump's tariffs. (Bloomberg)
- Nvidia-induced hysteria could hit tomorrow.
- Risk-reward may be balancing for IBM, says analyst.
- Signal: choppy grocery stock could suffer more losses.
Oil Stockpile Surprises Investors
A larger-than-anticipated stockpile drove crude prices steady for today's session, brushing off Iran-U.S. tensions. March-dated West Texas Intermediate (WTI) crude lost 0.3%, or 21 cents, to settle at $65.42 per barrel.
Gold enjoyed the attention from safe haven investors this afternoon, as tariff worries took a backseat. April-dated gold futures added 1% to settle at $5,226.20 an ounce.
