U.S. markets suffered today, kicking off the holiday-shortened week on a negative note. The Dow and S&P 500 closed lower on the back of disappointing big bank earnings from the likes of Goldman Sachs ( GS ) and Citigroup ( C ), while the Nasdaq joined its peers in the red. Looking ahead, investors are eyeing another round of notable earnings releases tomorrow, and a potential update on U.S.-China trade talks following Treasury Secretary Steven Mnuchin's comment that the two are "getting very close" to a deal.
Continue reading for more on today's market, including:
- This weed stock just had its worst day of 2019 .
- Call traders swiped right on Match stock.
- A pre-earnings look at Johnson & Johnson.
- Plus, the streaming stock hit by Amazon rumors; the FAANG stock flashing a buy signal; and C-suite shake-up drops Best Buy stock.
The Dow Jones Industrial Average (DJI - 26,384.77) shed 27.5 points, or 0.1%. UnitedHealth ( UNH ) led the 16 advancing blue chips, adding 3.1%. Meanwhile, GS paced the 14 losers with a 3.8% drop.
The S&P 500 Index (SPX - 2,905.58) lost 1.8 points, or 0.06%, while the Nasdaq Composite (IXIC - 7,976.01) let go of 8.2 points, or 0.1%.
The Cboe Volatility Index (VIX - 12.32) added 0.3 point, or 2.6%.
5 Items on our Radar Today
- Paris' iconic Notre Dame Cathedral broke out in a massive fire today, causing its famous spire structure to collapse. The official cause remains unknown, but the nearly 1,000-year-old cathedral has been undergoing structural repair. U.S. President Donald Trump was quick to respond, suggesting that "flying water tankers" could subdue the blaze. ( MarketWatch )
- Adding to the longevity and repercussions of Boeing's ( BA ) 737 Max 8 grounding, United Airlines extended cancellations of the aircraft to early July from June. American Airlines ( AAL ) has pushed cancellations even further, halting all 737 Max 8 flights through Aug. 19. ( CNBC )
- Amazon has become a major threat to this streaming name.
- This FAANG stock flashed a buy signal before earnings.
- Best Buy shares fell on CEO shake-up .
Data courtesy of Trade-Alert
Oil, Gold Retreat
Oil ended the day in the red, on reports a Russian official voiced concern over the country's participation in the Organization of the Petroleum Exporting Countries' (OPEC) production cuts. May-dated crude futures dropped 49 cents, or 0.8%, settling at $63.40 per barrel.
U.S.-China trade progress sent gold lower. June-dated gold closed down $3.90, or 0.3%, at $1,291.30 per ounce -- its lowest settlement in over a week.