The markets sold off again today as investors position for the possibility of no rate cut by the Fed following the Chairman's comments yesterday. The Dow closed lower on the day by 122, the S&P 500 sold off 6, and the Nasdaq lost 12 on the day.

Tomorrow the focus will be on the unemployment numbers, which could be a market mover in the morning. The rate is expected to remain unchanged at 3.8%

Sector News

Oil continued its pullback today with the second-largest decline this year. Today is the day the US stops issuing waivers to countries getting oil from Iran. This has shifted the demand back to Saudi Arabia, which has already received requests from Asian refiners to fill the void.

Gold is approaching its 200-day moving average, which investors will look at for support. Gold demand reports show that physical gold purchases have hit their highest levels since 2013 as central banks lead the way. Russia and China are the highest buyers of gold as they continue to move away from the US dollar.

Stock News

Square (SQ  ) shares were lower today despite the company reporting earnings and revenue that were better than expected. Investors focused on guidance for the current quarter, which was lower than expected. This sent shares back to February lows on volume that was well above average.

Tesla (TSLA  ) shares were back in the news today as the company announced a new capital raising program to add $2.3 billion in new funding. As of now, the company will offer 2.7 million shares and $1.3 billion in convertible notes to hit their funding goal. Shares have recently sold off under the long-term support area of $240, with many technical traders now eying the $200 level for future support.

Under Armpur (UA  ) shares traded in a wild range today as the company announced earnings that beat expectations by 5 cents along with revenue which came in higher as well. The report showed sales outside the US as improving, which allowed the company to raise full year guidance.