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<ul class="summary-list"><li>Iran's missile attack on Israel sent US stocks lower on Tuesday.</li><li>Gold and crude oil rallied, while the 10-year Treasury yield dropped.</li></ul>Stock indexes dropped on Tuesday as escalating Middle East tensions jolted investors.Traders elected to crowd into safe-haven assets like gold as Iran launched a barrage of missiles toward Israel on Tuesday. The attack was in response to Israel's <a target="_blank" href="https://www.businessinsider.com/israel-launches-ground-offensive-into-lebanon-destroy-hezbollah-targets-2024-9">ground offensive into Lebanon</a>, which began the night before.Crude oil jumped as much as 6% on the news. Traders will now be bracing for Israel's response to Iran, and whether this has the potential to disrupt oil flows, said Helima Croft, RBC Capital Markets head of global commodity strategy."Iran is producing at a five-year high," she told <a target="_blank" href="https://www.cnbc.com/video/2024/10/01/heres-how-iranian-missile-strikes-could-impact-oil-prices.html">CNBC</a>. "We do need to think of a scenario where Iranian oil supply is at risk."As oil rallied, so did gold and the bond market, with investors piling into risk-off assets. On Tuesday, the yellow metal jumped more than 1%, and continues to hover near its recent all-time record."Military conflicts can quickly escalate into a scenario that causes markets to sell off dramatically, with safe haven assets such as gold and Treasuries seeing heavy inflows," said Quincy Krosby, Chief Global Strategist for LPL Financial.Here's where US indexes stood at the 4 pm closing bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,708.75, down 0.9%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones industrial average</a>: 42,156.97, down 0.4% (173 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,910.36, down 1.5%</li></ul>On the economic data front, job openings in August increased more than expected unexpectedly to 8.04 million, surpassing consensus estimates of 7.6 million, according to the latest Job Openings and Labor Turnover Survey."This noisy indicator is starting to suggest a stabilization of the job market as the Fed pivots," Bill Adams, Chief Economist for Comerica Bank, wrote. "Relatively few workers are being fired or laid off, and few are leaving jobs voluntarily for other opportunities, either."Investors can expect more labor data to come in this week, culminating in September's jobs report on Friday. Economists forecast 150,000 jobs added for the month and a flat unemployment rate of 4.2%.Here's what else happened today:<ul><li><a target="_blank" href="https://www.businessinsider.com/china-economy-outlook-stimulus-fiscal-consumer-support-deflation-stephen-roach-2024-10">There are still 2 steps China needs to take to avoid long-term deflation</a>, Yale economist Stephen Roach says.</li><li><a target="_blank" href="https://www.businessinsider.com/russia-barter-pakistan-mounting-sanctions-western-war-allies-international-trade-2024-10">A Russian firm is reportedly forced to barter for Pakistani rice</a> as Western sanctions bite down.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/chinese-stocks-beijing-stimulus-investing-hang-seng-index-kyle-bass-2024-10?_gl=1*99fgnj*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzgwOTAzNC42NzYuMS4xNzI3ODEyMzU0LjIzLjAuMA..">Don't put money into Chinese stocks over the long-term</a>, 'Big Short' investor Kyle Bass says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/us-port-strike-biggest-stock-market-winners-losers-investing-analysis-2024-10?_gl=1*16y3xs3*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzgwOTAzNC42NzYuMS4xNzI3ODEyNDU4LjYwLjAuMA..">Here are the biggest stock winners and losers coming out of the port strike</a>.</li></ul>In commodities, bonds and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> increased 1% to $2,661.10 an ounce.</li><li>The 10-year Treasury yield fell five basis points to 3.73%</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> dropped 5% to $60,812.01.</li></ul>

Stocks tumble, oil spikes as Mideast tensions flare

<ul class="summary-list"><li>Stocks bounced back from Monday's losing session as oil dropped and tech stocks surged.</li><li>Earnings season kicked off Tuesday, and major banks are scheduled to report on Friday.</li></ul>US stocks rebounded on Tuesday after Monday's losses, with momentum revived by a tech rally and falling crude prices.The Magnificent 7 tech cohort led the market higher, with Nvidia at the forefront. The AI chipmaker climbed 4% on Tuesday, while <a target="_blank" href="https://markets.businessinsider.com/stocks/meta-stock">Meta</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/tsla-stock?miRedirects=1">Tesla</a>, and <a target="_blank" href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a> all traded more than 1% higher.The surge in oil prices that pressured stocks on Monday, meanwhile, retraced, with international and US crude prices falling more than 4%. Energy traders pulled back on Monday as they continued to await retaliation from Israel over Iran's missile barrage last week, while a disappointing stimulus update in China weighed on the outlook for oil demand. In the US, Wall Street is keeping an eye on the upcoming consumer price index report for September. The inflation data will publish on Thursday, and will inform investors what to expect from the Federal Reserve's next policy meeting in November. Though the market had been anticipating another half-point interest rate cut next month, last Friday's <a target="_blank" href="https://www.businessinsider.com/september-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-10?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*qs0pxj*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODM5MTI5Mi43MDAuMS4xNzI4Mzk0MTk5LjUyLjAuMA..&amp;utm_medium=ingest&amp;utm_source=markets">big jobs report</a> erased those forecasts. Bank of America expects any upside surprise in the inflation data may keep <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-volatility-cpi-inflation-september-jobs-report-bofa-2024-10?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">rates higher for longer</a>.At the same time, Fed officials have cited optimistic expectations for rate cuts to continue. On Monday, New York Fed president John Williams told the <a target="_blank" href="https://www.ft.com/content/ea0b03d3-47c6-4b33-a6a7-770f5898f24e">Financial Times</a> that a quarter-point cut is a "very good base case."Economists project consumer inflation for September to come in at 2.3% year-over-year, down from 2.5% in August.Tuesday's session also marked the start of earnings season. In a new report, BofA noted that the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stocks-q3-earnings-lower-rates-stocks-returns-outlook-bofa-2024-10?_gl=1*5idogj*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODQxMDMxNi43MDQuMS4xNzI4NDEyOTQ3LjUyLjAuMA">bar for third-quarter earnings is low</a>, adding that investors will likely reward firms as long as they express confidence about lower rates.Major US financial firms, including JPMorgan, Wells Fargo, and BlackRock, report results on Friday.Among Tuesday's notable movers was Roblox, which briefly fell <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/roblox-stock-price-short-seller-hindenburg-report-gaming-inflated-metrics-2024-10?_gl=1*1dndsjr*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODQxMDMxNi43MDQuMS4xNzI4NDE2ODE3LjYwLjAuMA..">nearly 10% in intraday trading,</a> after short-seller Hindenburg Research took aim at the gaming platform.Meanwhile, China's sharp equity rally <a target="_blank" href="https://www.businessinsider.com/china-stock-markets-csi300-golden-week-reopening-bazooka-stimulus-outlook-2024-10?utm_medium=ingest&amp;utm_source=markets">showed signs of slowing down</a>. Beijing's failure to announce new stimulus plans on Tuesday has disappointed investors.Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,751.16, up 0.97% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,080.37, up 0.3% (+126.13 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,182.92, up 1.45% </li></ul>Here's what else is going on:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/commodities/hurricane-milton-power-outage-florida-electricity-natural-gas-prices-futures-2024-10?_gl=1*13jm4ua*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODQxMDMxNi43MDQuMS4xNzI4NDEyODYyLjYwLjAuMA..">Energy traders bet Hurricane Milton will spark power outages and leave power plants idling in Florida.</a></li><li>Russia's economy can withstand pressure for several more years but will eventually face an<a target="_blank" href="https://www.businessinsider.com/russia-economy-outlook-defense-budget-spending-ukraine-war-putin-sanctions-2024-10"> "unsolvable trilemma," </a>an expert says.</li><li>Rate cuts were supposed to ease mortgage rates. <a target="_blank" href="https://www.businessinsider.com/mortgage-rate-increase-since-federal-reserve-cut-interest-rates-housing-2024-10">Here's why the opposite happened.</a></li><li><a target="_blank" href="https://www.businessinsider.com/china-economy-growth-stimulus-demand-emerging-markets-world-bank-2024-10">China's stimulus won't stop its GDP decline next year</a>, the World Bank says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/carl-icahn-hindenburg-research-short-seller-adani-group-nikola-block-2023-5?_gl=1*mqn88g*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODQxMDMxNi43MDQuMS4xNzI4NDEzMDgzLjQxLjAuMA..#3-draftkings-3">Roblox, DraftKings, or Icahn Enterprises: here are the biggest calls made by short-seller Hindenberg Research.</a></li><li><a target="_blank" href="https://markets.businessinsider.com/news/currencies/meme-coins-bitcoin-inventor-surge-len-sassaman-crypto-hbo-documentary-2024-10?_gl=1*1kl3k6d*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODQxMDMxNi43MDQuMS4xNzI4NDEzMDExLjUwLjAuMA..">Meme coins tied to the identity of bitcoin's inventor have rallied ahead of a new documentary that could reveal their identity</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude sank 4.1% to $73.92 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, tumbled 4.1% to $77.57 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> fell 0.9% to $2,641 an ounce.</li><li>The 10-year Treasury yield was nearly flat at 4.018%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> dropped by 1.7% to $62,226.</li></ul>

Stock market today: Tech rally leads stocks higher as oil prices plunge and earnings kick off

<ul class="summary-list"><li>Indexes edged up on Tuesday as markets eyed incoming inflation data this week. </li><li>The rally slowed, but stocks added to records notched in Monday's session. </li></ul>US stocks added to records on Tuesday, with the blistering rally since last week slowing slightly as traders prepared to take in new inflation data this week. A five-day rally helped the Dow Jones Industrial Average and S&amp;P 500 notch <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-11/stock-market-today-dow-s-p-live-updates?srnd=phx-markets">fresh closing highs on Monday</a>, with many assets lumped into the Trump trade seeing a continued boost from the President-Elect's victory. Among them, <a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">bitcoin</a> came close to hitting the $90,000 mark for the first time in early trading on Tuesday. The crypto industry <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-crypto-industry-donald-trump-election-reserve-regulation-sec-2024-11">expects to benefit</a> from Trump's friendly stance toward digital assets, with markets hoping for less regulation of the space. The rally slowed as markets approached the October consumer inflation report. The consumer price index will be published on Wednesday, and Wall Street will be monitoring for any material shifts in inflation.Economists expect a 2.5% year-over-year jump in CPI, compared to a rise of 2.4% in the prior month. Any meaningful surprise could upend expectations over the Federal Reserve interest rate cuts next months.Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 6,008.06, up 0.11%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 44,341.72, up 0.11% (+48.59 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 19,328.04, up 0.16% </li></ul>Here's what else happened today:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/treasury-bond-yields-selloff-risk-trump-trade-tariff-immigration-tax-2024-11?_gl=1*m3ciw*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMTQxNDkxMy44MjAuMS4xNzMxNDE5NjMzLjYwLjAuMA..">The stock market's Trump bump could end once Treasury yields reach 5%</a>, JPMorgan says.</li><li><a target="_blank" href="https://www.businessinsider.com/stock-market-outlook-recession-fears-jump-trump-trade-war-tariffs-2024-11">Trump's proposed trade war boosts chances of a US recession to 75%</a>, according to BCA Research.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/trump-tax-cuts-tariffs-stock-market-sp500-inflation-china-trade-war-2024-11?_gl=1*1ipv5dl*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMTQxNDkxMy44MjAuMS4xNzMxNDE5ODg5LjU2LjAuMA..">Trump's tax cuts could boost S&amp;P 500 earnings by 20% over the next 2 years</a>, Goldman Sachs says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-oil-merger-crude-producer-rosneft-gazprom-lukoil-wsj-2024-11?_gl=1*qhoxcu*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMTQxNDkxMy44MjAuMS4xNzMxNDIwMjgxLjU3LjAuMA..">A report says Russia is considering merging three oil firms into the world's second-largest producer</a>.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil rose 1.3% to $68.92 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, rose by 1% to $72.62 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> was about flat at $2,618 an ounce.</li><li>The 10-year Treasury yield climbed five basis points to 4.367%</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> rose 4% to $86,262. </li></ul>

Stock market today: Trump rally slows with stocks at record highs ahead of new economic data

<ul class="summary-list"><li>More than half of the stock market's post-Trump-election rally has been erased.</li><li>The turning point came Thursday, when Fed Chair Powell said the central bank will take its time cutting rates.</li></ul>And just like that, half of the stock market's euphoric post-Trump-election gain is gone.Major US indexes sold off sharply on Friday, with the tech-heavy Nasdaq leading the way, as investors came to terms with the fact that they may not get a December rate cut as previously expected.The turning point came on Thursday, when Federal Reserve Chair Jerome Powell said he and the central bank are in <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-federal-reserve-inflation-jerome-powell-interest-rates-2024-10">no hurry to cut rates</a>, given the positive signals being sent by the economy.Stocks turned lower in afternoon trading, and that pressure continued through Friday. The <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> fell as much as 1.6%, and has now given back more than half of its torrid 4% post-election gain. The <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_composite">Nasdaq Composite</a> dropped 2.7% at intraday lows.The S&amp;P 500 fell 2.2% this week, while the Dow Jones industrial average lost 1.2% and the Nasdaq slid 3.2%.The losses have come as the odds for a 25-basis-point rate cut in December have fallen. Investors are now pricing in a 58% probability of one at the next meeting, down from around 80% before Powell's address, according to the <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch Tool</a>.The comments from the central-bank head come amid a promising streak of US economic data. On Friday, retail-sales data showed signs of strength, and on Thursday, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-trump-jerome-powell-federal-reserve-inflation-data-2024-11">jobless-claims figures</a> came in surprisingly light.Stock investors have been grappling with what Trump will ultimately mean for the market now that the dust is settling on a buy-everything rush. Concerns have been raised around whether Trump's protectionist trade policies will drive inflation higher, possibly necessitating eventual rate hikes.Until now, investors had seemed content to focus on Trump plan to cut taxes and deregulate. But it now seems that Jerome Powell has given them something else to think — and worry — about.Here's where US indexes stood at the 4 p.m. closing bell on Friday:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a>: 5,870.62, down 1.3%</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/index/dow_jones">Dow Jones Industrial Average</a>: 43,444.99, down 0.7% (306 points)</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_composite">Nasdaq composite</a>: 18,680.12, down 2.2%</li></ul>Here's what else is going on:<ul><li><a target="_blank" href="https://www.businessinsider.com/trump-trade-election-stock-market-impact-chart-analysis-bonds-crypto-2024-11">5 charts</a> that show Trump's immense post-election market impact, from BofA.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/health-stocks-trump-appointment-vaccines-rfk-moderna-2024-11">Health stocks slid</a> after Trump appoints vaccine-skeptic RFK Jr.</li><li>UBS says Trump's plan to <a target="_blank" class="" href="https://www.businessinsider.com/trump-housing-plan-federal-lands-tax-incentives-mortgage-rates-ubs-2024-11">build homes on federal land</a> could push housing prices higher.</li><li>The oil market faces a <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/oil-outlook-supply-crude-prices-us-production-china-opec-2024-11">deep surplus next year</a> amid weak Chinese and demand record US production, IEA says.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate crude</a> slid 2.5% to $67.01 a barrel</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 2% to $71.11 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> slid 0.2% to $2,567.60 an ounce.</li><li>The <a target="_blank" class="" href="https://markets.businessinsider.com/rates/u-s--rates-10-years?miRedirects=1">10-year Treasury yield</a> rose less than one basis point to 4.44%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> rose 3.5% to $91,271.20.</li></ul>

The stock market's Trump honeymoon is turning sour

<ul class="summary-list"><li>Indexes rose Thursday to continue a post-election rally after the Fed cut interest rates.</li><li>The Fed cut rates by 25 basis points, a smaller move compared to its September meeting. </li></ul>Indexes ended higher on Thursday, extending a post-election rally after the Federal Reserve delivered a rate cut at the end of its latest policy meeting. The Nasdaq jumped 1.5% to a new record high, while the S&amp;P 500 climbed 0.8% to a new record. The Dow Jones Industrial Index was nearly flat after surging by more than 1,500 points on Wednesday. Here's where US indexes stood at the 4:00 p.m. closing bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,973.10, up 0.74% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,729.34</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 19,269.46, up 1.5%</li></ul>Major indexes gained as the Fed <a target="_blank" class="" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">cut rates by 25 basis points</a>, which was widely expected after an initial jumbo 50 basis point cut in September.Chair Jerome Powell said the Fed will continue to be data dependent, but that it is prepared to adjust its easing pace as necessary.Though some noted after the meeting that the Fed's tone may have sounded less confident about the path of inflation, noting "progress" has been made rather than the previous wording of "further progress," analysts were unconcerned."The Committee had used this language as a threshold to start cutting, so we interpret its removal as a reflection of the fact that the cutting cycle is already underway rather than as an indication of reduced confidence in the inflation outlook," analysts from Goldman Sachs said in a Thursday note.CPI data has been slightly sticky above the Fed's 2% target, with the <a target="_blank" class="" href="https://www.businessinsider.com/inflation-september-cpi-consumer-price-index-federal-reserve-interest-rates-2024-10">latest report</a> showing inflation cooled in September but less than economists had expected.The labor market, on the other hand, appears to be a smaller source of stress for the Fed, but Powell said it's "prepared to adjust the pace and destination" of easing as the jobs data evolves."There seems to be less anxiety about the risk of rising unemployment and slowing job growth," Fitch Ratings chief economist Brian Coulton said in a Thursday note.The latest employment data, released Thursday, shows weekly jobless claims increased slightly to 221,000, a gain of 3,000 from the week before and in line with expectations.Investors seem hopeful Trump's light regulatory stance and proposals for corporate tax cuts will make for a more friendly business environment. <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-bull-rally-trump-deregulation-tax-cuts-evercore-2024-11">Evercore ISI this week predicted</a> the S&amp;P 500 to jump 11% by next summer as the rally accelerates in Trump's second term. Powell said the election outcome will have "no effect" on the Fed's policy in the near future and reiterated that the Fed does not speculate on any administration's potential impact on the economy.Here's what else is going on:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/polymarket-whale-banked-85-million-profit-trump-president-election-win-2024-11?miRedirects=1">The Polymarket "whale" made a lot more</a> than previously thought betting on Trump to win. </li><li>Stocks are entering "Crazy Town" as valuations near generational highs. </li><li>Stocks tied to Russia rally as Trump's win <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/russia-stocks-trump-win-ukraine-war-putin-zelenskyy-2024-11?_gl=1*7o1w4e*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTAxMTE0MC4zNzguMS4xNzMxMDEzMTI1LjYwLjAuMA..">fuels hopes</a> for an end to the Ukraine war.</li><li>Trump's win created a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/wealthiest-people-in-world-net-worth-increase-trump-victory-stocks-2024-11?_gl=1*1kcs0b*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTAxMTE0MC4zNzguMS4xNzMxMDEzMTUyLjMzLjAuMA..">record $64 billion</a> of net worth for the world's 10 richest people.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures were up. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> rose 0.5% to $72.06 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, climbed 0.7% to $75.42 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose climbed 1.4% to $2,713.80 an ounce.</li><li>The 10-year Treasury fell nine basis points to 4.335%. </li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was up slightly to $76,505.</li></ul>

Stock market today: Stocks extend post-election rally as the Fed cuts interest rates

<ul class="summary-list"><li>Indexes climbed on Thursday after the huge post-election rally in the previous session. </li><li>Traders will shift their attention to the Fed, which is expected to announce a 25-basis-point rate cut. </li></ul>Indexes edged up on Thursday, heading for another day of gains after Donald Trump's election victory <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11?_gl=1*16d1s21*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDk4NTQ0OS4zNzUuMS4xNzMwOTg5NDc2LjMwLjAuMA..">fueled a massive rally across the stock market on Wednesday.</a>The Dow Jones Industrial Average was just slightly higher after surging <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-victory-stock-market-today-dow-tsla-djt-bitcoin-yields-2024-11?_gl=1*1okordg*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDk4NTQ0OS4zNzUuMS4xNzMwOTg5NDk1LjExLjAuMA..">over 1,500 points</a>, up 3.6% in its biggest single-day percentage gain in two years.Bank stocks and tech shares rallied in the session, fueled by hopes for a lighter regulatory touch and corporate tax cuts under Trump. Bitcoin also gained, given Trump's <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-going-for-crypto-bro-vote-world-liberty-financial-2024-9?utm_medium=ingest&amp;utm_source=markets">pro-crypto stance</a>.On Thursday, investors will turn their attention toward the Federal Reserve, which is expected to cut interest rates by 25 basis points. That would continue the central bank's easing cycle, which kicked off with a jumbo 50 basis point cut in September. After this month's meeting, fed fund futures show the outlook for monetary policy <a target="_blank" class="" href="https://www.businessinsider.com/trump-win-fed-pause-rate-cuts-easing-jpmorgan-david-kelly-2024-11">becomes less clear</a>, with expectations for further cuts declining in the last week. Markets are adjusting to the reality of a second Trump presidency, which economists have said would likely drive inflation if he enacts campaign proposals like broad tariffs and mass deportations. The latest data on Thursday showed weekly jobless claims increased slightly to 221,000, a gain of 3,000 from the week prior and in line with expectations.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,950.88, up 0.37% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,754.89, up 0.06% (+24.86. points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 19,114.17, up 0.69%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/us-election-trump-stock-rally-rise-sp500-outlook-regulation-mergers-2024-11?_gl=1*1y0bf0i*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDk4NTQ0OS4zNzUuMS4xNzMwOTg5NDQ2LjYwLjAuMA..">3 post-election reasons</a> why stocks will rise into year-end, according to Goldman Sachs.</li><li>"Crypto president" Donald Trump has <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/bitcoin-price-btc-record-high-donald-trump-victory-presidential-election-2024-11?_gl=1*bputk0*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDk4NTQ0OS4zNzUuMS4xNzMwOTg5NTExLjYwLjAuMA..">investors cheering</a> as bitcoin hits record.</li><li>These 5 billionaires were the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/billionaires-net-worth-trump-stock-market-nvidia-tesla-2024-11?_gl=1*n9h555*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDk4NTQ0OS4zNzUuMS4xNzMwOTg5NTM0LjM3LjAuMA..">biggest net-worth winners</a> on Wednesday as stocks surged.</li><li>There's a <a target="_blank" class="" href="https://markets.businessinsider.com/news/bonds/surging-treasury-yields-after-trump-win-show-borrowers-may-not-get-relief-2024-11?_gl=1*zwkckg*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDk4NTQ0OS4zNzUuMS4xNzMwOTg5NjAyLjMxLjAuMA..">big warning sign</a> for consumers flashing as stocks surge.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures fell. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> dipped 0.5% to $71.30 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 0.4% to $74.62 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose 0.8% to $2,697.40 an ounce.</li><li>The 10-year Treasury yield slipped three basis points to 4.396%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> edged up to $74,891. </li></ul>

Stock market today: Stocks edge higher after huge rally as traders await Fed decision

<ul class="summary-list"><li>Stocks were mostly higher Tuesday morning after closing lower in Monday's session. </li><li>Oil prices slid, while investors shrugged off sluggishness in China stocks. </li></ul>Stock markets opened higher on Tuesday as oil prices dipped, helping investors recover slightly after Monday's losing session. International crude prices fell 3%, with Brent down to $78.50 a barrel. US oil prices were also down 3% to $74.77 a barrel. Traders also appeared to shrug off the sluggishness in Chinese stocks. Though the country's soaring equities have recently stolen the spotlight, the <a target="_blank" href="https://www.businessinsider.com/china-stock-markets-csi300-golden-week-reopening-bazooka-stimulus-outlook-2024-10">rally stumbled</a> on Tuesday after Beijing failed to announce fresh stimulus as many observers had been expecting. Instead, Wall Street is largely focused on earnings and upcoming inflation data, scheduled for release on Thursday. September's consumer price index has regained the spotlight as a factor that could determine whether the Federal Reserve can continue to cut interest rates this year after last month's jobs report was <a target="_blank" href="https://www.businessinsider.com/september-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-10?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*qs0pxj*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODM5MTI5Mi43MDAuMS4xNzI4Mzk0MTk5LjUyLjAuMA..">much stronger than expected</a>.Economists project consumer inflation for September to come in at 2.3% year-over-year, down from 2.5% in August.However, any upside surprise could trigger stock volatility this week, as it could indicate the Fed may have to keep <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-volatility-cpi-inflation-september-jobs-report-bofa-2024-10?utm_medium=ingest&amp;utm_source=markets">interest rates higher for longer</a>, says Bank of America.Meanwhile, Tuesday marked the of the earnings season, kicking with PepsiCo. Shares in the beverage firm fell as the company cut its full-year guidance. Major US financial firms including JPMorgan, Wells Fargo, and BlackRock report on Friday. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,716.40, up 0.36% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 41,915.00, down 0.1% (-42.74 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,016.89, up 0.51% </li></ul>Here's what else is going on:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/china-stock-market-rally-outlook-bullish-drivers-stimulus-goldman-sachs-2024-10?_gl=1*j3t12y*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODM5MTI5Mi43MDAuMS4xNzI4MzkyNzQxLjQyLjAuMA..">Goldman Sachs is betting that the Chinese equity rally could run up another 20%</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-fed-outlook-recession-economy-stocks-ed-yardeni-2024-10">The Fed won't cut any more this year as the 'phantom recession' is finally dead</a>, Ed Yardeni says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-trader-lost-306-million-according-to-lawsuit-rbc-2024-10?_gl=1*8qe2uw*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODM5MTI5Mi43MDAuMS4xNzI4MzkyODQyLjYuMC4w">A Tesla trader turned $65,000 into $306 million before losing it all, according to a lawsuit.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude slid 3% to $74.77 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 3% to $78.50 a barrel</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> was essentially flat at $2,665.5 an ounce.</li><li>The 10-year Treasury yield rose by two basis points at 4.053%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> fell 1.44% to $62,384.53.</li></ul>

Stock market today: Indexes edge up as oil prices ease and traders look to key inflation data

<ul class="summary-list"><li>US stocks fell Monday as bond yields and oil prices moved higher.</li><li>The rise in oil prices and solid September jobs report has revived inflation concerns.</li></ul>US stocks retreated from near-record highs on Monday, with all three major moving averages declining by about 1%.A number of risk factors pushed stocks lower on Monday, including a jump in interest rates and oil prices, the <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-milton-category-five-threatens-florida-fema-funding-2024-10">growing intensity of Hurricane Milton</a>, and negative news flow for a couple of mega-cap technology stocks.The 10-year US Treasury yield jumped back above 4% on Monday, representing its highest level in about two months. Friday's release of the September jobs report sparked the move higher in yields.The stronger-than-expected nonfarm payroll report showed <a target="_blank" class="" href="https://www.businessinsider.com/september-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-10">employers added 254,000 jobs</a> last month, crushing estimates of about 150,000. The unemployment rate also declined slightly to 4.1%.Meanwhile, oil prices continued to surge on Monday, rising by about 4% as tensions in the Middle East continued to simmer on the first anniversary of the Hamas-led attack against Israel.The rise in oil prices and the stronger jobs report are fanning fears of a potential rebound in inflation, which would mean fewer rate cuts from the Federal Reserve."After Friday's strong employment report, the consensus might pivot to 'no rush to ease further' during the fall. We can't rule out 'higher for longer' making a comeback this winter. We are in the none-and-done camp for the rest of this year," Yardeni Research said in a note on Monday.Finally, a Wells Fargo analyst downgrade of Amazon sent that stock lower by about 3%, while Alphabet shares dropped 2% after a judge ordered <a target="_blank" class="" href="https://www.reuters.com/legal/us-judge-orders-google-open-up-app-store-competition-2024-10-07/">the company to open its app store to more competition,</a> handing a victory to Epic Games.Investors will <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-q3-earnings-preview-investors-themes-ai-interest-rates-2024-10">turn their attention to earnings season, which kicks off this week</a> with results from PepsiCo on Tuesday, followed by the first of the major banks on Friday.Finally, the September CPI report is also due out this Thursday. Economists expect the CPI index to rise 2.3% year-over-year in September, down from 2.5% in August. Bank of America analysts note that an upside surprise in last month's inflation reading has the potential <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-volatility-cpi-inflation-september-jobs-report-bofa-2024-10">to send stocks on a roller coaster this week</a>. Here's where US indexes stood shortly at the 4:00 p.m. closing bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,695.94, down 0.96% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 41,954.24, down 0.94% (-398.51 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,923.90, down 1.18% </li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-nvda-smci-super-micro-100000-gpu-chips-2024-10">Nvidia stock jumped 4% on Monday after Super Micro Computer said it was shipping more than 100,000 GPUs per quarter.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-jobs-report-growth-value-david-kelly-2024-10">JPMorgan's chief strategist told Business Insider why he is feeling "increasingly queasy" about the market.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-trader-lost-306-million-according-to-lawsuit-rbc-2024-10">A Tesla trader turned $65,000 into $306 million before losing it all, according to a lawsuit.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/texas-housing-market-home-prices-falling-austin-dallas-moving-trends-2024-10">Falling home prices and fed-up residents show the Texas housing boom is slowing down.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/inflation-outlook-fed-interest-rate-cuts-jobs-report-us-economy-2024-10">Consumer prices are still in focus for investors despite the Fed's recent pivot to the labor market.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-goldman-sachs-boosts-sp500-price-target-again-2024-10">Goldman Sachs increased its year-end S&amp;P 500 price target for the third time this year to 6,000.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude jumped 3.93% to $77.30 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 3.89% to $81.09 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was down 0.18% to $2,663.00 an ounce.</li><li>The 10-year Treasury yield was higher by 7 basis points at 4.032%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was higher by 0.82% to $63,335.</li></ul>

Stock market today: Indexes drop and yields, oil prices spike ahead of earnings and fresh economic data

<ul class="summary-list"><li>Indexes fell Thursday before Friday's nonfarm payrolls report for September.</li><li>Traders are watching rising risks to oil supplies as tensions in the Middle East escalate.</li></ul>Markets closed lower on Thursday amid rising fears over spiraling Middle East tensions and as traders prepared to digest the September nonfarm payrolls report on Friday morning.The Dow Jones Industrial Average fell nearly 200 points, while the S&amp;P 500 and the Nasdaq both stumbled. Treasury yields rose, with the 10-year bond yield up seven basis points to 3.855%.The decline was fueled by further fears of escalating conflict between Israel and Iran.In remarks to reporters, President Joe Biden was vague about the potential for retaliatory strikes by Israel against Iran, but suggested it's a possibility.The world has been on edge after Iran launched a missile attack against Israel on Tuesday, retaliating for Israel's killing of the Hezbollah leader.Biden's comments pushed crude prices higher. US oil spiked 5.5% to $73.98 a barrel and Brent prices rose more than 5% to trade at $77.86.If the conflict destroys Iran's oil infrastructure, oil prices could <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/oil-price-outlook-israel-iran-geopolitics-middle-east-war-crude-2024-10?_gl=1*1nljk35*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyNzk4MjI3MS4yMjIuMS4xNzI3OTg0NzQyLjMuMC4w">surge 161%</a> to over $200 a barrel, according to SEB's chief commodities analyst Bjarne Schieldrop.Weekly jobless claims on Thursday came in at 225,000, an increase of 6,000 from the week before, according to Labor Department data released Thursday. Economists had expected an increase of just 2,000.Investors are eagerly awaiting the September jobs report, due Friday, for further signs of labor market health. The report is expected to show the unemployment rate staying flat at 4.2%, and an increase of 150,000 jobs in September, more than the 142,000 increase from August.The data will be a key indicator on the health of the labor market as the Federal Reserve makes its next rate-cut decision after its jumbo 50 basis point rate cut last month.Markets are pricing in a 65% chance of a smaller 25 basis point cut in November, according to the CME FedWatch Tool.Here's where US indexes stood at the 4:00 p.m. closing bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,699.97, down 0.17%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,011.59, down 0.44% (184.93 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,918.47, down 0.04%</li></ul>Here's what else was going on Thursday:<ul><li>Why China's massive stimulus effort <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-monetary-stimulus-package-xi-jinping-beijing-interest-rates-2024-10">might not have any effect until next year</a>.</li><li>Costco is <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/costco-starts-selling-platinum-bars-gold-silver-retail-success-2024-10?_gl=1*1v69c35*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyNzk4MjI3MS4yMjIuMS4xNzI3OTg0ODU2LjE0LjAuMA..">selling platinum bars</a> as it expands its precious-metals business after huge success selling gold</li><li>Nvidia <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-jensen-huang-blackwell-gpu-demand-ai-tech-2024-10?_gl=1*1knr2l0*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyNzk4MjI3MS4yMjIuMS4xNzI3OTg0ODc2LjU5LjAuMA..">stock jumps</a> after CEO Jensen Huang says "demand for Blackwell is insane"</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures rose. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> spiked 5.5% to $73.98 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, rose 5.3% to $77.86.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> was up 0.3% $2,678 an ounce.</li><li>The 10-year Treasury yield was up seven basis points to 3.855%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was up 1.2% to $61,075.</li></ul>

Stock market today: Indexes fall, oil surges on Middle East turmoil ahead of jobs report     

<ul class="summary-list"><li>Markets celebrated Donald Trump's election victory on Wednesday.</li><li>The Dow soared by more than 1,400 points. Bank stocks, tech shares and bitcoin rallied in the session.</li></ul>US stocks embarked on a major rally on Wednesday as traders took in <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">Donald Trump's election win</a>.Major indexes soared to fresh records, with the Dow Jones Industrial Average climbing more than 1,500 points during the session.<a target="_blank" class="" href="https://markets.businessinsider.com/news/bonds/surging-treasury-yields-after-trump-win-show-borrowers-may-not-get-relief-2024-11">Bond yields surged</a> as investors eyed the potential for inflation and interest rates to rise again in another Trump term. The yield on the 10-year US Treasury spiked 14 basis points to 4.431%.Here's where US indexes stood at the 4:00 p.m. closing bell on Wednesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,929.05, up 2.53%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,729.93, up 3.57% (+ 1,508.05 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,983.46, up 2.95%</li></ul>Traders piled into assets they see <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-trade-us-presidential-election-dollar-treasuries-stocks-crypto-djt-2024-11">benefitting under a Trump presidency</a>, with markets eyeing an agenda of deregulation and lower taxes benefiting US corporations.<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/bank-stocks-donald-trump-victory-reelection-wall-street-outlook-regulation-2024-11">Bank stocks</a> soared during the day, with Bank of America and Citigroup more than 8%, JPMorgan up 11%, and shares of Wells Fargo and Goldman Sachs each up 13%.Tesla <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-win-elon-musk-election-tsla-2024-11">climbed almost 15%</a> to trade at its highest level in over two years. Investors see Elon Musk and his companies among the election winners after the CEO strongly backed Trump during his campaign.<a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-soars-crypto-president-donald-trumps-election-betting-odds-2024-10">Bitcoin jumped to a fresh record high</a>, climbing above $75,000 for the first time ever. Investors see Trump as the first "crypt president"," hoping that his term will boost digital assets after he courted the market during his campaign.Wall Street will focus on the Fed's policy meeting on Thursday. Central bankers are expected to <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">cut rates another 25 basis points</a> on Thursday, followed by another quarter-point cut in December. However, rate cut expectations are starting to ease as investors consider potentially higher inflation under another Trump term."As a result, the Fed rate cut on Thursday may be the last cut, since the Fed does not like to fight market rates," Louis Navellier, the chief investment officer of Navellier &amp; Associates, said in a note on Wednesday, pointing to higher Treasury yields."As we move into 2025, we believe it's possible that we only see two or three cuts for the year depending on the mix of policy and growth that plays out," Yung-Yu Ma, the CIO of BMO Wealth Management, added.Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-soars-record-valuation-overtakes-apple-nvda-ai-2024-11">Nvidia stock hit a record high</a>, solidifying its position as the world's most valuable company.</li><li>The <a target="_blank" class="" href="https://www.businessinsider.com/polymarket-whale-banked-48-million-profits-trump-president-election-win-2024-11">polymarket whale that bet big on Donald Trump's victory</a> banked $48 million on Wednesday.</li><li>There are <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/us-election-trump-stock-rally-rise-sp500-outlook-regulation-mergers-2024-11?_gl=1*1culf3a*_ga*OTI1ODIwOTQ2LjE3MTYzOTg2NjU.*_ga_E21CV80ZCZ*MTczMDkxNjYxMC41MjguMS4xNzMwOTE5MTMyLjM0LjAuMA..">three post-election reasons why stocks are bound to rise</a> through the end of the year, according to Goldman Sachs.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/bonds/ukraine-bonds-trump-wins-us-election-russia-war-zelenskyy-2024-11">Ukraine bonds jumped after Trump's win</a> amid his vows to help end the war in Ukraine.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil dipped slightly to $71.89 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, edged lower by 0.5% to $75.14 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> slumped 2.85% to $2,665.64 an ounce.</li><li>The 10-year Treasury yield climbed 13 basis points to 4.426%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> rose 9.31% to $75,742.</li></ul>

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Stocks tumble, oil spikes as Mideast tensions flare

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Stock market today: Tech rally leads stocks higher as oil prices plunge and earnings kick off

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Stock market today: Trump rally slows with stocks at record highs ahead of new economic data

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Stock market today: Stocks edge higher after huge rally as traders await Fed decision

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Stock market today: Indexes edge up as oil prices ease and traders look to key inflation data

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Stock market today: Indexes drop and yields, oil prices spike ahead of earnings and fresh economic data

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Stock market today: Indexes fall, oil surges on Middle East turmoil ahead of jobs report

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