"The markets are retreating today after a two-day rally in which technology stocks were out front. Today, tech is a drag, with stalwart chipmaker Intel ( Nasdaq: INTC) down by a double digit percentage as worries around chip demand resurface. All three of the major stock market averages are seeing red, including a fractional decline in the Nasdaq Composite. Nvidia ( Nasdaq: NVDA) is a rare gainer today, tacking on 1.6% and preventing the markets from further declines."
"Sectors of the economy are mixed, with energy out front amid a nearly 3% gain in the WTI Crude oil price. Natural gas prices are also skyrocketing by over 60% as a fresh arctic blast begins to blanket the U.S. Separately, Precious metals are extending their run, including a spot gold price that's inching closer to the key $5,000/ounce level."
"While a potential successor to Tim Cook has been making headlines, Bloomberg reports that the Apple ( Nasdaq: AAPL) CEO has zero plans of stepping down anytime soon. Here's a look at where things stand as of morning trading: Dow Jones Industrial Average: 49,320.00 Down 238.00 (-0.48%) Nasdaq Composite: 25,588.50 Down 67.75 (-0.26%) S&P 500: 6,932.50 Down 12.50 (-0.18%) Market Movers"
Markets retreated after a two-day rally as technology stocks weakened and Intel fell by a double-digit percentage amid renewed chip demand worries. All three major averages declined, with the Nasdaq posting a fractional drop while Nvidia rose 1.6% and limited losses. Energy led sector gains as WTI crude climbed nearly 3% and natural gas surged over 60% due to a fresh arctic blast. Precious metals extended gains with spot gold nearing $5,000 per ounce. Bloomberg reported that Apple CEO Tim Cook has no plans to step down. Amazon is set to report on Feb. 5, and Affirm filed for an industrial loan charter in Nevada.
Read at 24/7 Wall St.
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