Despite this morning's soft inflation data and a preliminary U.S.-China trade agreement, the major indexes reversed their midday gains. The Nasdaq dropped 99 points, snapping its three-day win streak alongside the S&P 500, while the Dow finished flat. Though the Cboe Volatility Index (VIX) earlier hit its lowest level since February, it finished the day with only its third daily gain in two weeks.
Continue reading for more on today's market, including:
- 3 defense stocks in focus amid Pentagon buzz.
- Sunrun stock sinks on Jefferies downgrade.
- Plus, SPX signal to watch; and 2 stocks that plummeted today.
5 Things to Know Today
- A quick breakdown of the U.S. tariffs on China. (MarketWatch)
- The U.S. is preparing a partial evacuation of its embassy in Iraq due to security risk. (Reuters)
- S&P 500 flashing short-term V-bottom signal.
- GitLab stock hit with price-target cuts after disappointing guidance.
- Chewy stock suffers worst day in over two years.
Oil Jumps Nearly 5% Amid Iraq Tensions
Oil prices rose amid escalation tensions in Iraq. July-dated West Texas Intermediate (WTI) crude climbed $3.17, or 4.88%, to settle at $68.15 per barrel.
Gold inched higher after inflation data. August-dated gold futures rose just 30 cents to settle at $3,343.70 per ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
