Dow Extends Losses As Nasdaq Bounces Back

The Dow and S&P 500 continued to churn just below their respective record highs today, with the former extending its midday losses to clock a 126-point drop. The Nasdaq was able to claw its way out of the red, however, settling with a modest win, as many Big-Tech names strengthened. This mostly muted trading action comes ahead of this Thursday's Consumer Price Index (CPI) reading, which could sway future Federal Reserve inflation decisions. Meanwhile, a growing number of "meme" stocks remain squarely in the limelight, staging wild swings while the broader market remains relatively quiet. 

The Dow Jones Average (DJI - 34,630.24) fell 126.2 points or 0.4% for the day. Microsoft (MSFT) led the Dow components with a 1.2% rise, while Merck & Co (MRK) paced the laggards, falling 1.8%.

Meanwhile, the S&P 500 Index (SPX - 4,226.52) shed 3.4 points, or 0.1% for the day. The Nasdaq Composite (IXIC - 13,881.72) rose 67.2 points, or 0.5% for the day.

Lastly, the Cboe Volatility Index (VIX - 16.42) settled the day flat.

Closing Indexes Summary June 7

Unusual Options Activity June 7

NYSE and Nasdaq Stats June 7

IMMINENT IRAN NUCLEAR DEAL PUTS PRESSURE ON OIL PRICES

Oil prices cooled from Friday's two-year year highs as investors kept a close eye on an imminent nuclear deal with Iran, which will likely lift sanctions on Tehran and potentially raise global supply. July-dated crude lost 39 cents, or 0.6%, to settle at $69.23 per barrel, though early in the day it managed to hit $70.

Gold prices continued to rise on Monday, though they fell just short of the psychologically significant $1,900 yet again. The weakening dollar aided today's rise, though the 10-year Treasury yield also inched higher, which could put pressure on the precious metal in the near-term. August-dated gold rose $6.80, or 0.4%, to settle at $1,898.80 an ounce for the day. 

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