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<ul class="summary-list"><li>Stocks tumbled sharply on Thursday, dragged down by tech. </li><li>Microsoft and Meta stock dropped on renewed concerns over AI spending. </li></ul>US stocks fell sharply on Thursday, with the tech-heavy Nasdaq sliding almost 3% as Meta and Microsoft faced steep losses.The tech sell-off was sparked by the latest earnings from mega-cap firms that mostly exceeded estimates but disappointed investors in other areas and exacerbated concerns about heavy investment in artificial intelligence. The S&amp;P 500 dropped almost 2% while the Dow Jones Industrial Average lost more than 370 points. 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>: 5,705.37, down 1.86% </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>: 41,763.19, down 0.9% (-378.35 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>: 18,095.15, down 2.76%</li></ul>Much of the disappointment came down to the tech giants' guidance. Microsoft said it expects the current quarter's revenue to come in between $68.1 billion and $69.1 billion, while analysts polled by FactSet had expected $69.89 billion. The company attributed the slowdown partially to its investment in cloud computing capacity for AI demand.Microsoft's stock fell 6% to close at $406.35. Meta, meanwhile, said it expects a ramp up in capital expenditures in the next year as it continues to spend on AI, and raised its capex forecast for this year to a range of $38 billion to $40 billion, from $37 billion to $40 billion.Analysts from UBS, though, remain positive that the increased spend will deliver."While Meta continues to signal a significant increase in CapEx for 2025, the results also highlighted multiple offsets to illustrate what the investments will start to bring - as we have been calling out previously, the easiest item to observe is the absolute step up in revenue dollar growth in 2024 which stands at ~$28B currently and nearly matching the Pandemic-driven acceleration from 2021 of ~$29B," the analysts wrote in a Thursday note.Meta's shares lost 4% to close at %567.68. Also on Thursday, investors digested the Federal Reserve's preferred inflation gauge. The personal consumption expenditures index cooled to 2.1% year over year in September from 2.2% in August, but the core index—which excludes volatile food and energy prices—came in higher than forecasts at 2.7%.Jobless claims, meanwhile, fell by more than expected to 216,000 last week, a fall of 12,000 from the week prior. Economists had expected 230,000 claims.Here's what else is going on:<ul><li>3 reasons why surging gold prices will <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/gold-price-record-outlook-3-reasons-continued-rally-goldman-sachs-2024-10">climb another 8%</a> by the end of 2025, according to Goldman Sachs.</li><li>AI hype is a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-prediction-ai-artificial-intelligence-bubble-jeremy-grantham-2024-10?_gl=1*jsb4bv*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDQwMDU1MC4zNDQuMS4xNzMwNDAxMDQ5LjIuMC4w">bubble set to burst</a> as it follows the path of tech manias throughout history, legendary investor Jeremy Grantham says.</li><li>Coinbase CEO says next Congress will be the <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/election-crypto-political-funding-pac-coinbase-ceo-trump-harris-congress-2024-10?_gl=1*1rwo0ws*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDQwMDU1MC4zNDQuMS4xNzMwNDAxMDcwLjQzLjAuMA..">"most pro-crypto" ever</a> and pledges another $25 million in political funding.</li><li>Microstrategy is <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/microstrategy-bitcoin-michael-saylor-crypto-btc-record-high-mstr-2024-10?_gl=1*iiycnz*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDQwMDU1MC4zNDQuMS4xNzMwNDAxMDk5LjE0LjAuMA..">raising $42 billion</a> — almost its entire market value — to buy more bitcoin.</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 2.8% to $70.53 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 0.8% to $73.17 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 slipped 1.6% to $2,756 an ounce.</li><li>The 10-year Treasury was about flat at 4.278%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> traded around $70,000. </li></ul>

Stock market today: Microsoft, Meta drag tech stocks lower on concerns over AI spending

<ul class="summary-list"><li>US stocks edged lower on Wednesday as investors continued to adjust their outlook for Fed rate cuts.</li><li>Investors see a 69% chance the Fed will cut rates two more times in 2024. </li></ul>US stocks slumped on Wednesday as investors tempered their expectations for rate cuts, sending bond yields higher. Major indexes slipped in early-morning trading, while Treasury yields moved up. The 10-year Treasury bond yield rose three basis points to 4.242%, its highest level in about three months. The bond market has been <a target="_blank" class="" href="https://markets.businessinsider.com/news/bonds/treasury-yields-bonds-interest-rates-economy-inflation-election-labor-market-2024-10">caught in a sell-off this week</a> as traders adjust their views on the path of monetary policy amid hot economic data, the potential for a Trump victory next month, and cautious guidance from Fed officials this week. Investors are pricing in a 69% chance the Fed is still on track to cut rates two more times this year, but odds for a rate cut in January have fallen to 45%, down from 66% a week ago, according to the <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch tool</a>.Investors, meanwhile, are keeping an eye on coming corporate earnings reports. Boeing shares slid more than 2% early Wednesday after the aerospace firm reported a loss of over $6 billion last quarter. Tesla shares also dipped slightly lower as investors readied for Elon Musk's car company to r<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-q3-earnings-preview-wall-street-auto-margins-robotaxi-2024-10?_gl=1*bbcxw6*_ga*MTgwNjk2NzI1OC4xNzIwNDY0ODMz*_ga_E21CV80ZCZ*MTcyOTY4ODYyMy4yNzEuMS4xNzI5Njg4ODcxLjM2LjAuMA..">eport earnings after the closing bell</a>.Earnings season has been off to a strong start so far. 79% of S&amp;P 500 companies that have already reported financials have <a target="_blank" class="" href="https://insight.factset.com/sp-500-earnings-season-update-october-18-2024">beaten earnings estimates</a>, according to a FactSet analysis last Friday."The bar for third-quarter earnings is low, with analysts currently expecting only about a 3% increase in S&amp;P 500 earnings per share (EPS). That low bar and a supportive economic environment points to potential upside," LPL Financial wrote in a note.MacDonald's stock dropped 6% after the Centers for Disease Control and Prevention said an outbreak of <a target="_blank" class="" href="https://www.businessinsider.com/mcdonalds-e-coli-outbreak-tied-quarter-pounders-2024-10">E. Coli linked to the fast food chain's quarter pounders</a> led to one death and 10 hospitalizations. Here's where US indexes stood shortly after the 9:30 a.m. opening 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>: 5,831.32, down 0.34% </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>: 42,666.37, down 0.62% (-262.74 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">Nasdaq composite</a>: 18,477.25, down 0.52%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/paul-tudor-jones-gold-crypto-bitcoin-election-inflation-debt-crisis-2024-10">Legendary investor Paul Tudor Jones</a> says he's buying gold and bitcoin prior to the November election.</li><li>A<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-anti-china-stocks-semiconductors-export-controls-tariffs-trade-10"> Trump win could fuel a long-term buying opportunity</a> in Chinese stocks, according to one stock chief.</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 1% to $71.03 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 1.01% to $75.27 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> slid 0.59% to $2,732.47 an ounce.</li><li>The 10-year Treasury yield ticked higher three basis points to 4.242%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> edged lower to $66,785.</li></ul>

Stock market today: US stocks drop and bond yields climb as investors temper expectations for rate cuts

<ul class="summary-list"><li>The Dow and the S&amp;P 500 hit all-time highs Thursday as US stocks hit a six-week win streak. </li><li>Strong third-quarter earnings from Netflix and Intuitive Surgical led to massive 10%+ stock gains.</li></ul>US stocks jumped to record highs on Friday and the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a>, and <a target="_blank" class="" href="https://markets.businessinsider.com/index/dow_jones">Dow Jones Industrial Average</a> notched a six-week win streak as investors digested solid third-quarter earnings results.The Dow and the S&amp;P 500 both closed at all-time highs. Shares of <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix</a> and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/isrg-stock">Intuitive Surgical</a> soared more than 10% to record highs after their <a target="_blank" class="" href="https://www.businessinsider.com/netflix-profit-cash-burn-debt-turnaround-2024-10">third-quarter earnings bested analyst's profit and revenue estimates.</a>With 13% of S&amp;P 500 companies having already reported third-quarter earnings, 82% are beating profit estimates by a median of 6%, while 67% are beating revenue estimates by a median of 2%, according to data from Fundstrat.The blended earnings growth rate for the S&amp;P 500 is 3.4% based on the companies that have already reported, according to data from FactSet. If this growth rate holds through earnings season, it would represent the 5th straight quarter of year-over-year earnings growth.Earnings season will be in full swing next week, with investors awaiting results from more than 80 S&amp;P 500 companies, including <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/ko-stock">Coca-Cola</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/txn-stock">Texas Instruments</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>, and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/ups-stock">UPS</a>, among others.Next week, on the economic data front, investors will monitor the release of September's US leading economic indicators index, data on existing home sales, and consumer sentiment.Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:<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>: 5,864.68, up 0.4% </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>: 43,275.91, up 0.09% (+36.86 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">Nasdaq composite</a>: 18,489.55, up 0.63% </li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-upside-growth-ai-chips-demand-bofa-2024-10">Nvidia has another 38% upside amid a 'generational opportunity' in AI, Bank of America said.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/trump-election-odds-polymarket-whale-kamala-harris-polls-betting-markets-2024-10">A $30 million whale on Polymarket could be skewing the betting odds on a Trump win in November.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-soars-crypto-president-donald-trumps-election-betting-odds-2024-10">Bitcoin is on a tear as 'crypto president' Donald Trump's betting-market odds climb.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stanley-druckenmiller-nvidia-stock-price-why-sell-nvda-ai-infrastructure-2024-10">Billionaire investor Stanley Druckenmiller said he regrets selling his entire stake in Nvidia and is looking to buy it back.</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 oil was down 1.67% to $68.92 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 1.56% to $73.29 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was higher by 0.98% to $2,734.10 an ounce.</li><li>The 10-year Treasury yield was lower by 2 basis points at 4.077%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was higher by 1.81% to $68,627.</li></ul>

Stock market today: US stocks close at records and notch 6-week win streak amid solid earnings

<ul class="summary-list"><li>US stocks were mostly higher on Friday amid a string of solid third-quarter earnings reports.</li><li>Netflix and Intuitive Surgical beat Wall Street estimates, boosting their stock prices to new record highs.</li></ul>US stocks traded higher on Friday, with all three major averages at or near record highs as investors digested third-quarter earnings results.Netflix's <a target="_blank" class="" href="https://www.businessinsider.com/netflix-profit-cash-burn-debt-turnaround-2024-10">third-quarter earnings report was strong.</a> It added 5.1 million subscribers and beat Wall Street's revenue and profit estimates. <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix</a> stock jumped about 7% in Friday morning trades to near-record highs.<a target="_blank" class="" href="https://markets.businessinsider.com/stocks/isrg-stock">Intuitive Surgical</a> also reported solid third-quarter earnings that beat Wall Street estimates for revenues and profits. That stock also jumped about 7% in Friday morning trades to a record high.With 13% of <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> companies having already reported third-quarter earnings, 82% are beating profit estimates by a median of 6%, while 67% are beating revenue estimates by a median of 2%, according to data from Fundstrat.Investors are also digesting new data on the housing market, with housing starts in September hitting 1.35 million, down slightly from August's 1.36 million number. Additionally, building permits dropped to 1.45 million in September from 1.48 million in August.Looking ahead to next week, investors will be eyeing the release of September's US leading economic indicators index, data on existing home sales, and consumer sentiment.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday:<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>: 5,851.46, up 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">Dow Jones Industrial Average</a>: 43,083.60, down 0.36% (-155.45 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>: 18,484.21, up 0.64%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-soars-crypto-president-donald-trumps-election-betting-odds-2024-10">Bitcoin is on a tear as 'crypto president' Donald Trump's betting-market odds climb.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/oil-price-prediction-brent-crude-israel-iran-opec-demand-citi-2024-10">Oil prices could soar 62% by early 2025 if the geopolitical situation deteriorates, Citi said.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stanley-druckenmiller-nvidia-stock-price-why-sell-nvda-ai-infrastructure-2024-10">Billionaire investor Stanley Druckenmiller said he regrets selling his entire stake in Nvidia and is looking to buy it back.</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 oil was down 1.54% to $69.01 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 1.45% to $73.37 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was higher by 0.55% to $2,722.30 an ounce.</li><li>The 10-year Treasury yield was lower by one basis point at 4.08%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was higher by 0.67% to $67,861.</li></ul>

Stock market today: Indexes trade near record highs after a string of solid earnings reports

<ul class="summary-list"><li>US indexes were mixed on Wednesday as traders took in the latest inflation data.</li><li>Core inflation rose 0.3% in August, slightly above economists' expectations.</li></ul>US stocks traded mixed on Wednesday as investors took in last month's inflation report, which showed an unexpected increase in the monthly core consumer price index. The Dow Jones Industrial Average was down more than 400 points shortly after the opening bell. Bond yields rose as traders readjusted expectations for a jumbo rate hike of 50 basis points at next week's Federal Open Market Committee meeting. August inflation came mostly in line with economists' expectations, with the consumer price index rising 2.5% year-per-year last month — the slowest pace of inflation recorded since February 2021.But core inflation, which excludes more volatile food and energy prices, rose 0.3% for the month, slightly hotter than anticipated.The surprise increase led investors to almost completely discount the possibility of a 50 basis point rate cut at the Fed's next policy meeting. Markets are now pricing in an 83% chance central bankers will trim rates by 25 basis points, up from 66% odds priced a day ago, according to the <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch tool</a>."Core inflation beating expectations in August should tilt the Fed toward an initial 25 bps rate cut next week," Josh Jamner, an investment strategy analyst at ClearBridge Investments, said in a note on Wednesday. "Further signs that inflation may be a bit stickier than previously thought would likely result in a slower and shallower cutting cycle. This would be a disappointment to short-term bond markets," he added, noting that investors had priced in over 250 basis points worth of cuts by the end of next year."The August CPI report was like the Hippocratic Oath, it did no real harm to the financial markets," Jack McIntyre, a portfolio manager at Brandywine Global, wrote in a note. "A 50bps cut should not be in the cards as the recession call needs further deterioration in the labor market and the Fed likes its optionality."Fed officials are set to meet next week to discuss the central bank's next policy move. The latest inflation data is expected to be a major input for central bankers, in addition to producer price data and jobless claims on Thursday. Here's where US indexes stood shortly after the 9:30 a.m. opening 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>: 5,467.46, down 0.51%</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>: 40,330.96, down 1% (406 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>: 17,029.10, up 0.02%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/ally-financial-stock-price-plunges-cfo-says-consumer-pressures-intensifying-2024-9">Ally Financial plunged 19%</a> after its CFO said borrowers were struggling.</li><li>Here's why the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-record-high-price-prediction-wells-fargo-2024-9">stock market isn't hitting new highs anytime soon</a>, according to Wells Fargo.</li><li><a target="_blank" class="" href="https://www.businessinsider.com/housing-market-when-to-buy-home-prices-competition-supply-mortgage-2024-9?_gl=1*p58km6*_ga*OTI1ODIwOTQ2LjE3MTYzOTg2NjU.*_ga_E21CV80ZCZ*MTcyNjA1OTM3MS4zMjkuMS4xNzI2MDYxMTAxLjU5LjAuMA..">The best week of the year to buy a home is coming up</a>.</li><li>Here's why <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/oil-prices-outlook-supply-demand-break-down-record-us-production-2024-9">oil prices have cratered to their lowest level</a> in nearly 3 years.</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 rose 1.73% to $66.89 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, ticked higher 1.47% to $70.21 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was lower by 0.26% to $2,509.97 an ounce.</li><li>The 10-year Treasury yield climbed two basis points to 3.667%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> inched higher 0.2% to $57,011.</li></ul>

Stock market today: Stocks fall as annual inflation slows but monthly CPI notches surprise increase

<ul class="summary-list"><li>US stocks were mostly lower Friday, though the Dow eked out a gain to close at a record high. </li><li>The Federal Reserve's first interest rate cut since 2020 helped drive the week's gains.</li></ul>US stocks closed mostly lower on Friday, but finished the week higher by just over 1% for the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a>, and <a target="_blank" class="" href="https://markets.businessinsider.com/index/dow_jones">Dow Jones Industrial Average.</a>The Dow edged slightly higher in Friday's session to clinch another record close to cap off the week. The anticipation and delivery of the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/fed-interest-rate-cut-ai-stocks-nvidia-broadcom-asml-tech-2024-9">Federal Reserve's first interest rate cut since 2020</a> helped drive the gains this week.The Fed issued a jumbo 50 basis point interest rate cut to "recalibrate" monetary policy, as Fed Chairman Jerome Powell put it nine times during his FOMC speech on Wednesday.Investors took the move as assurance that the US economy is on track for a soft landing, as inflation continues to cool and the labor market normalizes.US stocks <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-record-high-federal-reserve-tech-stocks-nvidia-2024-9">soared on Thursday</a> after declining slightly on Wednesday, as investors had more time to digest the Fed's interest rate decision.Going forward, there should be more gains in store for the stock market, according to Raymond James CIO Larry Adam."The combination of Fed easing, and a soft landing should prove to be a tailwind for risk assets (equities in particular). Historically, Fed easing cycles have been positive for the equity market. In fact, the S&amp;P 500 has been up ~5% on average in the 12 months following the Fed's first cut," Adam said in a note on Friday.The S&amp;P 500 and Dow Jones Industrial Average both hit record highs on Thursday. But those record highs could become a liability if the economy weakens, according to Adam."With the S&amp;P 500 rallying to record levels and currently at some of the most expensive valuations (23.5 LTM P/E) that we have seen in history, there is not much room for disappointment if the soft-landing scenario were to falter," Adam said.Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:<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>: 5,702.63, down 0.19% </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>: 42,061.85, up 0.09% (+36.66 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>: 17,948.32, down 0.36%</li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/djt-stock-price-record-low-donald-trump-lockup-expiration-sell-2024-9">Trump Media stock plunged to a record low as the lockup period for insiders expires, giving them clearance to sell shares.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/home-depot-lowes-stock-fed-rate-cut-benefit-2024-9">Home Depot and Lowe's are already seeing the benefits from the Fed's first interest rate cut.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/interest-rates-fed-cuts-recession-us-economy-outlook-1995-2024-9">The Federal Reserve is following its 1995 playbook, which is great news for both the stock market and the economy.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/russia-oil-sanctions-west-ukraine-war-economy-revenue-blacklisted-ships-2024-9">Sanctioned tankers are back to transporting Russian oil in a blow to the West's efforts to restrict crude flows.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/bubble-risks-rate-cut-bonds-gold-bofa-hartnett-federal-reserve-2024-9">Investors should buy bonds and gold as post-rate cut bubble risks remain, according to Bank of America.</a></li><li>A bear and a bull on Wall Street offered differing opinions as to where stocks go over the next three months:<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-strategist-warns-correction-soon-tech-bubble-risk-2024-9"> either 12% lower</a> or <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-bmo-raises-year-end-sp500-price-target-2024-9">7% higher.</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 oil decreased 0.10% to $71.09 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, dropped 0.39% to $74.59 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was up 1.17% to $2,645.30 an ounce.</li><li>The 10-year Treasury yield was higher by 2 basis points at 3.733%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was down 0.11% to $62,894.</li></ul>

Stock market today: US stocks end mixed but finish the week near record highs after the Fed's first rate cut in 4 years

<ul class="summary-list"><li>US stocks fell sharply on Friday after a weak August jobs report raised recession fears.</li><li>The S&amp;P 500 had its worst week since March 2023, dropping about 4%.</li></ul>US stocks declined sharply on Friday after a weaker-than-expected August jobs report <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/recession-indicator-perfect-track-record-flashes-yield-curve-spread-disinversion-2024-9">set off fresh fears about a recession.</a>The <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> closed out its worst week since March 2023, dropping about 4% in the week, while the <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a> dropped nearly 6%.The <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-today-august-jobs-report-miss-big-rate-cut-2024-9">US economy added 142,000 jobs in August,</a> below the average economist estimate of 164,000. The unemployment rate fell to 4.2% from 4.3%.While the jobs report wasn't as jarring as the July reading, which saw the unemployment rate unexpectedly jump, it affirmed the cooldown of the labor market and the need for the Federal Reserve to cut interest rates at its September 18 policy meeting.New York Fed President John Williams said <a target="_blank" class="" href="https://www.businessinsider.com/august-jobs-report-new-york-federal-reserve-unemployment-economy-outlook-2024-9">now is the time to cut rates in a speech on Friday.</a>"It is now appropriate to dial down the degree of restrictiveness in the stance of policy by reducing the target range for the federal funds rate," Williams said.The market expects a 25 basis point interest rate cut from the Fed later this month, according to the CME FedWatch Tool. It was see-sawing between 25 and 50-basis points earlier the day.The August report decisively shows how the US job market has weakened in recent months, with the three-month moving average of monthly job gains dropping from just under 270,000 in March to just over 110,000 in August.JPMorgan wrote following the report that the data points to the "waning vigor" of the labor market and should prompt a larger, 50 basis point cut from the Fed at its upcoming meeting. But the stock market weakness in the past week is typical, according to Fundstrat's Tom Lee, who believes that this decline <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-buy-the-dip-september-selloff-bull-rally-2024-9">is right on time based on weak September seasonality.</a>"Even if we are cautious about the next 8 weeks, to us, stocks are at the lower end of the range, and we see more upside than downside," Lee told clients in a note on Friday.Analysts at Ned Davis Research echoed the sentiment, noting that the September sell-off is <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-buy-the-dip-september-selloff-bull-rally-2024-9">ultimately a buying opportunity</a> as the stock market approaches its best three-month stretch of the year, Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:<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>: 5,408.42, down 1.73% </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>: 40,345.41, down 1.01% (-410.34 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>: 16,690.83, down 2.55%</li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/steve-eisman-economy-outlook-financial-crisis-tech-bubble-artificial-intelligence-2024-9">'Big Short' investor Steve Eisman explains why he refuses to predict another financial crisis.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/apple-stock-price-prediction-iphone-16-event-next-week-surprise-2024-9">Apple could unveil four upside surprises when it announces its iPhone 16 lineup next week, according to Goldman Sachs.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/elizabeth-warren-backs-justice-department-nvidia-antitrust-investigation-2024-9">Senator Elizabeth Warren backs the DOJ's investigation into Nvidia antitrust allegations.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/top-10-most-valuable-nfl-football-teams-include-dallas-cowboys-2024-9">The top 10 NFL football teams are worth a combined $78 billion, according to CNBC.</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 oil decreased 1.55% to $68.08 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, fell 1.83% to $71.36 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was down 0.82% to $2,522.20 an ounce.</li><li>The 10-year Treasury yield was down one basis point to 3.719%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> dropped 4.48% to $53,651.</li></ul>

Stock market today: Stocks notch worst weekly decline since March 2023 after August jobs report

<ul class="summary-list"><li>Famed value investor David Einhorn says he's betting on CNH Industrial.</li><li>The stock is trading cheap, but has upside as an agricultural boom mounts, he said.</li></ul>Famed hedge fund investor David Einhorn isn't one to shy away from market rejects — even if the stock in question was down more than 17% year-to-date as of Wednesday.The Greenlight Capital founder disclosed that he has built a position in <a target="_blank" href="https://markets.businessinsider.com/stocks/cnh-stock">CNH Industrial</a>, a global firm that sells agricultural equipment."It's exactly the kind of situation that absolutely nobody cares about right now because it's cheap, and the news over the next period of time probably isn't going to be very good," the billionaire manager said during <a target="_blank" href="https://www.youtube.com/watch?v=3ZqdfXrDPDo">CNBC's Delivering Alpha</a> conference on Wednesday.The value stock is part of Einhorn's strategy to snap up overlooked companies in today's expensive market."There are things that are truly despised and hated and cheap on an absolute basis that I think makes sense to own," he said.CNH's stock does appear to be cheap, as company shares have been weighed down by an agricultural down-cycle.But this period won't last, Einhorn said, anticipating the stock to rally over the medium term."This year, the ag equipment universe is probably 20% below its average at the end of the whole recycle. And sometime three or four years from now, it'll probably be 20% above," he said. "Just the nature of how these businesses work."Though this timeline may disappoint investors looking for a quick profit, Einhorn noted a few reasons to buy the stock now. CNH has little leverage and is actively buying back shares. Given that its an attractive dividend-payer, investors can score a yield of as much as 4%, he said.CNH jumped after Einhorn's comments, climbing 6.27% to $10.68 per share as of 9:52 a.m. ET on Thursday.During the conference, the Greenlight manager also cited that his firm has increased bets tied to inflation after Donald Trump's election win last week.Though Einhorn doesn't expect price growth to rebound toward pandemic-era highs, he cited that the incoming administration appears set on expansionary policies that <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">could push inflation</a> to a 3.5%-4.5% range next year.Otherwise, Einhorn's leading concern has been the stock market's rising expensiveness. In the hedge fund's quarterly letter published last month, he warned that equities were the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/david-einhorn-warren-stock-stock-market-valuation-tech-cash-sales-2024-10">most overvalued</a> since the firm's founding in 1996.That isn't to say that Einhorn is bearish, given that he sees no reason for the stock market rally to end."If you buy and hold for a very long period of time, I doubt that you will look back and say, 'this was a great entry point of all of the entry points that you could have,'" he told CNBC. "But that being said, there's no reason why the market can't continue to do fine for a good period of time."

Why billionaire investor David Einhorn is loading up on a struggling agriculture stock 'no one cares about'

<ul class="summary-list"><li>Trump's victory over Harris raises questions about Republican control of the House.</li><li>Wall Street strategists are closely monitoring financial markets and potential policy impacts.</li></ul>It's fair to say that much of <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-post-election-results-bullish-trump-trade-peter-tuchman-2024-11">Wall Street didn't get enough sleep</a> on election night after being caught off guard by the speed at which results began coming in.Dominic Pappalardo, the chief multi-asset strategist at Morningstar Wealth, was home watching <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/polymarket-prediction-betting-markets-vindicated-by-trumps-strong-showing-1033958821">prediction markets</a> and how percentages were skewing state by state. He was also keeping an eye on financial markets to see if they were making directional moves.Over in London, Richard Kelly, the head of global strategy at TD Securities, was on his firm's trading floor, busy answering endless client questions on 'What about this' and 'What about that'-type scenarios."As much as we all tried to think ahead of what the different policies would be, there are always a lot more questions that come up on the day, and they all have to be much more concrete," Kelly said. "So it's just been a whirlwind."Former President <a target="_blank" class="" href="https://www.businessinsider.com/election-results-trump-harris-presidential-election-2024-11">Donald Trump's victory</a> over Vice President Kamala Harris has been called for Tuesday's election, but Wall Street is still waiting on one more key answer: <a target="_blank" class="" href="https://www.businessinsider.com/congress-balance-of-power-results-competitive-republicans-democrats-2024-11">Will Republicans take the House</a>, too? It seems increasingly likely. Yet, the result would be based on a handful of seats."Technically, we don't need to know until the first half of December legally, and these things are so close in terms of the margin of error," Kelly said. "There's some of these races where literally hundreds of ballots is the differential of Republican versus Democrat. So it's not going to be today."The small tilt in the House makes a big difference because a handful of seats are enough to create some friction on Trump policies, Kelly noted.<h2 id="e4827f7a-5ee5-4a62-aa3b-da6a8ce8b3ef">Stocks</h2>Sector rotations among stocks are slightly muddy because the overall <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/us-election-trump-stock-rally-rise-sp500-outlook-regulation-mergers-2024-11">market is up so much that everything rallied</a> with the broad market, Pappalardo said. But one noteworthy sector is financials, which performed better than the overall market into Wednesday's early trading hours. It's unsurprising since the Republicans campaigned on policies favorable to banks and financial stocks, including decreased regulation. The steepening yield curve is also positive for banks as it boosts their profit margins since they borrow on the front-end yield and lend at the back-end yield, he added.Technology is another sector the market is viewing favorably: Tech companies have been creating a lot of profit, so Trump's promised corporate tax cuts will be quite beneficial, Pappalardo said.Meanwhile, the utilities sector lagged the broader market the most as we moved into Wednesday's early trading hours. Investors moving away from defensives toward cyclicals is likely a sign that investors believe the economy is positioned for growth, Pappalardo noted.While the rallies are positive for stocks, looking ahead, Pappalardo expects things to return to normality. In other words, investors will focus on traditional fundamentals like corporate earnings and interest rate policy.<h2 id="5e50dfbb-c80b-4dee-8272-69eff4f2145f">Bonds</h2>Wednesday was a long day for Gennadiy Goldberg, the head of US rates strategy at TD Securities. He stayed up past midnight watching the yield move before passing the baton off to his colleagues in London."Once the polls started to close, the market already started to move," Goldberg said. "It took the market very little time to start penciling in higher odds of the Trump victory."The swift and strong Republican win pushed the 10-year yield up from around 4.3% to around 4.45%.The <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/what-is-a-bond#:~:text=Bonds%20are%20loans%20that%20investors,the%20principal%20investment%20at%20maturity.">bond market</a> was expressing signs of nervousness. This sector of the market is worried about who's going to pay the bill for potentially higher budget deficits. The result is a pricing-in of higher debt premiums, Goldberg said.Additionally, aggressive immigration and tariff policies could be inflationary. And if it looks like inflation pressures are either reaccelerating or just stubbornly high, it could leave the Fed nervous about cutting rates further, Goldberg said.Kelly added that the 10-year could still move higher to 4.75%, and that's where he thinks the market could get more comfortable buying.<h2 id="b628f761-842f-464c-a039-7d296873c4e9">Currencies</h2>Jayati Bharadwaj, a global FX strategist at TD Securities, was at home in front of multiple screens until about 1 a.m. as she watched <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/what-is-forex">currencies move</a> amid the strong Trump lead. Initially, she expected the results to take a few days to become clear, but she was surprised by how quickly the outcome became evident. Currency markets also reacted swiftly against the backdrop of a strengthening dollar."The Chinese renminbi, the Mexican peso, and the euro were hit particularly hard because once markets saw the election results being called, they had to start pricing in the threat of tariffs," Bharadwaj said.She expects the euro to trade even weaker relative to the dollar once Trump takes office. Right now, it's trading at $1.07; expect it to move to $1.05, she said. If the Republicans take the House, then the euro could drop below $1.05, she added.Kelly added that China has been under the microscope since Trump talked about 60% tariffs on its imports. Other countries could face 10% tariffs across the board. So, if you're highly leveraged to trade, like Europe or the UK, it could be very negative for the euro and pound. He noted that it could also be negative on the currencies of Canada and Mexico, depending on how USMCA members will be impacted.On the flip side, the yen could weaken less than other currencies relative to the US dollar. The Bank of Japan may return to rate hikes over the next few months after it had paused, Kelly said. This means watch out for further unwinding in the yen carry trade. Therefore, the next question investors have to ask is: how many long equity positions have been funded at very low Japanese rates, Kelly said.For this reason, Bharadwaj cautions traders about jumping back into any carry trades because there will be a lot of currency volatility.<h2 id="2b454727-3f51-473d-b815-35fcf1e90886">Gold</h2>One surprise is that <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/gold-price">gold hasn't weakened</a> as much as expected, Kelly said. As the dollar strengthened, he anticipated a more significant pullback. Given the uncertainty and volatility that took place the day after the elections, it might be too soon as investors digest results. However, he anticipates further weakening in gold, which is down 2% from Election Day.

Chief strategists project their outlooks on stocks, bonds, currencies, and gold amid a Trump victory 

<ul class="summary-list"><li>US stocks ended mixed on Monday ahead of the start of the Fed's two-day policy meeting.</li><li>The Fed is widely expected to deliver a rate cut of 25 or 50 basis points at the end of its meeting on Wednesday.</li></ul>Stocks close mixed on Monday as traders and investors prepared for the start of the Federal Reserve's highly anticipated policy meeting.The Federal Open Market Committee, the Fed's rate-setting group, is expected to deliver an interest rate cut at 2 p.m. on Wednesday. Odds have risen for a larger, 50 basis point cut following a slightly hotter monthly reading of the core consumer price index for August. Markets see <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">61% odds</a> of a 50-basis-point move, versus 39% for a quarter-point move.The stock market has been eager for rates to come down, and Wednesday's meeting will be the culmination of months of waiting and speculation over what the central bank might do as inflation ebbs closer to its 2% target.Yet, analysts have struck a note of caution even as lower borrowing costs are broadly expected to be bullish. A growing chorus of market strategists have been <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/safe-defensive-stocks-ai-investing-rally-nvidia-semiconductors-selloff-outlook-2024-9">telling investors to start playing defense</a> and avoid being lured into high-flying tech trades tied to the promise of artificial intelligence.On Monday, Bank of America stock strategy chief Savita Subramanian echoed that sentiment, noting that <a target="_blank" class="" href="https://www.businessinsider.com/safe-dividends-bank-america-strategy-chief-savita-subramanian-federal-reserve-2024-9">"boring" stocks are a good bet</a>, and that investors should seek out dividend-paying shares in areas like financials and real estate.Here's where US indexes stood shortly after the 9:30 a.m. opening 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&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,633.09, up 0.1%</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>: 41,622.08, up 0.6% (228 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>: 17,592.13, down 0.5%</li></ul>Tech shares took a hit on Monday. <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/apple-stock-price-tech-iphone-16-demand-preorders-chip-stocks-2024-9">Apple slid almost 3%</a> after an analyst warned of weaker iPhone demand compared to last year's release.The Nasdaq Composite pared some losses to end more than 0.5% lower, fueled by the sell-off in Apple shares as well as declines among major chip firms including Broadcom, Nvidia, Super Micro Computer, and Micron Technology.Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/best-case-scenario-stock-market-outlook-fed-rate-cut-ms-2024-9">Morgan Stanley laid out the best-case scenario</a> for this week's Fed decision — and named two places to buy.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/russia-economy-oil-war-revenue-crude-prices-opec-production-cut-2024-9">Russia's oil revenue has plunged</a> to the lowest in months amid the fall in global oil prices.</li><li><a target="_blank" class="" href="https://www.businessinsider.com/gen-z-millennial-consumer-economy-strength-outlook-meredith-whitney-housing-2024-9">"The oracle of Wall Street" </a>says Gen Z and millennials are propping up the economy — with help from their parents.</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">WTI crude</a> increased 2.5% to $70.42 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 1.8% to $72.92 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 $2,608 an ounce.</li><li>The 10-year Treasury yield fell two basis points to 3.625%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> dropped 5%, trading at $58,070.</li></ul>

You Searched For "stocks to buy today" and got 10 results

Stock market today: Microsoft, Meta drag tech stocks lower on concerns over AI spending

Kelly Cloonan

Stock market today: US stocks drop and bond yields climb as investors temper expectations for rate cuts

Jennifer Sor

Stock market today: US stocks close at records and notch 6-week win streak amid solid earnings

Matthew Fox

Stock market today: Indexes trade near record highs after a string of solid earnings reports

Matthew Fox

Stock market today: Stocks fall as annual inflation slows but monthly CPI notches surprise increase

Jennifer Sor

Stock market today: US stocks end mixed but finish the week near record highs after the Fed's first rate cut in 4 years

Matthew Fox

Stock market today: Stocks notch worst weekly decline since March 2023 after August jobs report

Matthew Fox

Why billionaire investor David Einhorn is loading up on a struggling agriculture stock 'no one cares about'

Filip De Mott

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