Dow Snaps 4-Day Win Streak
June-dated crude fell once again after yesterdays dramatic drop
The Dow closed down around 30 points after a volatile day of trading, snapping a four-day win streak. The Nasdaq and S&P 500 also closed in the red, after the latter hovered around breakeven. Positivity surrounding states easing lockdown measures and the reopening the U.S. economy appeared dimmed after Dr. Anthony Fauci said opening prematurely could put the country in for "a bad fall."Looking ahead, a fresh dose of high-profile earnings are on the horizon, as well as the conclusion of the Federal Open Market Committee's (FOMC) two-day meeting.
Continue reading for more on today's market, including:
Bulls eye outperforming chip stock ahead of earnings.Soft drink stock's post-earnings pop.Plus, one blue chip's mask production buzz; Harley Davidson stock roars higher; and the U.S. airline requiring passengers to wear masks.
The Dow Jones Industrial Average (DJI - 24,101.55) fell 32.2 points, or 0.1%. Dow (DOW) topped the charts with a 4.1% win, while Merck (MRK) finished at the bottom with a 3.3% loss.
The S&P 500 Index (SPX - 2,863.39) lost 15.1 points, or 0.5% for the day, while the Nasdaq Composite (IXIC - 8,607.73) fell 122.4 points, or 1.4% for the day.
The Cboe Volatility Index (VIX - 33.57) gained 0.3 point, or 0.8% for the day.
5 Items on Our Radar Today
New York Gov. Andrew Cuomo outlined a 12-step plan in order to reopen New York amid coronavirus. Manufacturing and construction jobs will be the first businesses to return. (CNBC)U.S. President Donald Trump plans to use the Defense Production Act to order meat-processing plants to stay open. The White House started making moves when it appeared that a majority of meat production capacity was shutting down. (Bloomberg)3M stock pops on earnings beat. This motorcycle giant just broke above former resistance.Airliner on the rise after revealing face-covering mandate.
Data courtesy of Trade-Alert
Oil, Gold Finish Lower
Oil futures fell modestly in today's session, as focus shifted to reports of an oil tanker explosion in Syria. June-dated crude fell 44 cents, or 3.4%, to settle at $12.34 a barrel.
Gold futures finished lower today for the third straight session, though further losses were pared by dismal economic data on U.S. consumer confidence. Gold for June delivery fell $1.60, or 0.09%, to settle at $1,722.20 an ounce.