Nasdaq, S&P 500 Shed Gains Despite New 2023 Highs
The Nasdaq and S&P 500 pared earlier gains today, pulling back alongside Apple (AAPL). Prior to the reversal, both indexes touched 10-month highs. This big tech giant's WWDC event is underway, but the stock experienced a midday dip that put pressure on the broader tech sector. The Dow (DJI) shed roughly 200 points, as the banking sector struggled amid potential capital requirements being considered by U.S. regulators.
GOLD, OIL SCORE DAILY WINS
Oil ended Monday at its highest level since May 26, with July-dated crude adding 41 cents, or 0.6%, to close at $72.15 per barrel on the day. This comes after Saudi Arabia yesterday agreed to cut oil production by 1 million barrels per day next month.
Gold futures also finished higher, after the ISM services index reading tampered fears of another interest rate hike. August-dated gold tacked on $4.70, or 0.2%, to close at $1,974.30 an ounce for the day.
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