The Dow clocked its eighth loss in 10 sessions today, while the S&P 500 and Nasdaq snapped three-day win streaks of their own. Investors spent most of the day trading the debt ceiling hurdle in the House of Representatives, with the floor vote expected to occur around 8:30 p.m. ET later tonight. The Dow finished the month with a 3.5% loss, while the S&P 500 and Nasdaq logged solid wins for May, securing their third straight month in the black.
Continue reading for more on today's market, including:
- Chip stock sitting out sector rally.
- Why call traders crowded Twilio stock today.
- Plus, a winning call option; Lululemon earnings, and a bad day for AAP.
Things to Know Today
- Philadelphia Fed President Patrick Harker has indicated a preference toward not raising rates at the central bank’s June meeting. (MarketWatch)
- The U.S. is pushing more money into nuclear fusion. (Reuters)
- Oracle stock delivers big win for options traders.
- Keep an eye on Lululemon stock Friday.
- AAP suffers ugly post-earnings bear gap.
Oil Prices Extend Slump
Oil prices took a breather today, further departing from $70 as demand concerns fester. West Texas Intermediate (WTI) July-dated crude dropped $1.37, or 2%, to close at $68.08 per barrel. For the month, oil futures declined 11.3%.
Gold prices rose today, rising in converse with falling treasury yields. August-dated gold added $5, or 0.3%, to close at $1,982.10 an ounce, but still fell 1.8% for the month.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
