Stocks Log More Wins as Investors Eye FOMC Meeting
Wall Street managed to eke out another session of wins, with investors brushing off an extend climb for oil prices. Travel stocks aided in the rise, after several airlines projected better-than-expected revenue. A hit on energy infrastructure in the United Arab Emirates (UAE) and the resignation of U.S. National Counterterrorism Center Director Joe Kent over the war with Iran were also notable.
Kent said Iran had posed "no imminent threat," though President Donald Trump has refuted the claim. The Dow, S&P 500, and Nasdaq each enjoyed a second-straight win, with traders now eyeing tomorrow's Federal Open Market Committee (FOMC) meeting.
Continue reading for more on today's market, including:
- Middle East tensions dim Honeywell's outlook.
- Bear signal flashing for red-hot chemical stock.
- Plus, QQQ could keep climbing; downgrade drags drug stock; and DoE gives OKLO a lift.
5 Things to Know Today
- Unilever (UL) is looking for ways to splice up its food business, potentially spinning off into smaller companies. (Bloomberg)
- LG Energy Solutions and Tesla (TSLA) are partnering in the latter's $4.3 billion dollar purchase of battery cells for its energy storage systems. (CNBC)
- History says QQQ may keep climbing.
- Obesity drug market outlook dinged Eli Lilly stock.
- The DoE just gifted Oklo stock a pre-earnings boost.
Gold Stable Ahead of FOMC Meeting
Oil prices moved higher as focus remained on President Trump's progress in his tank escort coalition. April-dated West Texas Intermediate (WTI) crude rose 2.9% to close at $96.21 per barrel for the day.
Gold prices steadied, as traders watch the FOMC meeting. April-dated gold futures inched 0.07% higher to settle at $5,005.90 an ounce.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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