The Dow slipped almost 200 points in late-day trading
After a tepid day of trading, the Dow wound up closing over 200 points below breakeven, as investors weighed the good -- a potential reopening of the U.S. economy -- with the bad -- dismal private-sector payrolls data and a lackluster post-earnings reaction from Disney (DIS). The S&P 500 joined the Dow in the red, while Nasdaq wound up with a modest win, as big tech continued to shine. Receding oil prices were also on Wall Street's radar, snapping a five-day win streak.
Continue reading for more on today's market, including:
A look at Microsoft's latest product reveal. The hospital stock getting slammed on sector uncertainty.Plus, the REIT on analysts' radars; PZZA's post-earnings flop; and BYND's big day.
The Dow Jones Industrial Average (DJI - 23,664.64) lost 218.5 points, or 0.9% on Wednesday. Nike (NKE) lead the six gainers on a 1.4% pop, while Dow Inc (DOW) fell to the bottom of the 23 losers with a 4.2% drop. Pfizer (PFE) finished flat for the day.
The S&P 500 Index (SPX - 2,848.42) lost 20 points, or 0.7% for the day. Meanwhile, the Nasdaq Composite (IXIC - 8,854.39) ended 45.3 points, or 0.5%, higher.
The Cboe Volatility Index (VIX - 34.1) added 0.5 points, or 1.5%.
Data courtesy of Trade-Alert
Crude futures pivoted lower today, snapping a five-day winning streak. Tightening oil-storage capacity spooked traders, overshadowing a smaller-than-expected rise in weekly crude inventories and a decline in domestic production. June-dated crude fell 57 cents, or 2.3%, to settle at $23.99 a barrel.
Strength in the U.S. dollar and easing lockdown measures turned gold futures lower on Wednesday. Gold for June delivery fell $22.10, or 1.3%, to settle at $1,688.50 an ounce.