MARKET WRAP

Stocks fell today amid concerns over Middle East tensions and ahead of the September Jobs report due out tomorrow.

The S&P was down 0.17%, the Nasdaq closed slightly lower at 0.04% and the Russell 2000 was down 0.86%.

Energy was the best-performing sector, up 1.6% as oil spiked. Consumer Discretionay and Materials were the worst performers.

MRKT MATRIX: October 3, 2024

Today’s Top Stories:

• S&P 500 falls on oil spike as rough October continues (CNBC)

• U.S. crude oil jumps as Biden comments on possible Israel retaliation against Iran (CNBC)

• A recession is imminent and favored tech stocks set to crater like the ‘Nifty Fifty’ did, BCA Research says (CNBC)

• Nvidia CEO Jensen Huang says demand for next-generation Blackwell AI chip is ‘insane’ (CNBC)

• OpenAI asks investors to avoid five AI startups including Sutskever's SSI, sources say (Reuters)

• Apple’s A.I. Is Landing Soon on iPhones. Here’s What It’s Like. (NYT)

• Amazon to increase number of advertisements on Prime Video (FT)

• Uber and Lyft drivers use Teslas as makeshift robotaxis, raising safety concerns (Reuters)

• Warren Buffett Sells $338 Million of BofA Stock as Spree Slows (Bloomberg)

• Lilly Weight-Loss Drug Copycats Dealt Blow as Shortage Ends (Bloomberg)

Today’s MRKT Call is Presented by SoFi

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