Stocks finished firmly lower today, though soundly removed from their intraday lows. Following Wall Street's fifth-straight weekly win, the Nasdaq fell triple digits to start the week, while the Dow and S&P 500 closed more modestly in the red, with the blue-chip index snapping a four-day win streak. Crypto was the talk of the town today, with several stocks getting a halo lift from Bitcoin's 19-month highs.

GOLD HITS RECORD HIGHS

Oil prices moved lower for the third day in a row, extending its losses after the Organization of the Petroleum Exporting Countries and its Allies (OPEC+) announced production cuts at last week's meeting. January-dated West Texas Intermediate (WTI) crude fell $1.03, or 1.4%, to settle at $73.04 a barrel today. 

Gold has never been more expensive than it is now, hitting a record level of $2,152.30 per ounce today on hopes that the Federal Reserve will cut interest rates in 2024. At last look, prices retreated, however, with February gold futures down 2.1% at $2,028.00 per ounce. 

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