Today's volatile session ended with losses, as investors eyed resurfacing trade tensions and this morning's economic data. The ISM index rose to 51.6% in April, while the S&P Global U.S. services PMI fell to 50.8 last month -- a multi-year low. The Dow clung to gains for most of the session before finishing in the red, snapping a nine-day win streak alongside the S&P 500. Meanwhile, the Nasdaq closed with its first triple-digit drop in two weeks.
Continue reading for more on today's market, including:
- 3 streaming stocks struck by Trump tariff threat.
- 25 names to avoid for the month of May.
- Plus, options bulls target tech; Buffett steps down as CEO of BRK; and TSN struggled after earnings.
5 Things to Know Today
- An impressive boost in subscribers is putting this streaming name on track for as many as 1 million direct-to-consumer customers by the end of 2025. (CNBC)
- Multiple employees of Newark Liberty International Airport have been placed on trauma leave, after a technical glitch left air traffic controllers without the ability to use radio or radar technology for 90 seconds. (Bloomberg)
- Options bulls target tech giant as shares rally.
- Behind today's Berkshire Hathaway pullback.
- Shares of Tyson Foods struggled after earnings.
Oil Suffers Steep Drop After OPEC+ Update
News that the Organization of the Petroleum Exporting Countries & allies (OPEC+) will allow an increase of 411,000 barrels per day in June sent crude lower for the session. June-dated West Texas Intermediate (WTI) oil fell $1.16, or 2%, to close at $57.13 per barrel.
Anticipation surrounding the Federal Open Market Committee (FOMC) meeting later this week, and a weakening U.S. dollar, sent gold higher for the day. June-dated gold surged 2.4%, to close around $3,321.30 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
