Stocks Cool Off as Profit-Taking Weighs on Tech
Stocks dropped today as Wall Street succumbed to a bout of profit taking. The Dow shed 114 points for its first loss in four days, while the S&P 500 snapped its six-day win streak. The Nasdaq also finished lower amid a notable drop in semiconductor stocks, testing 19,000 at its session lows. Meanwhile, bond yields remain elevated, with the 10-year Treasury yield last seen at 4.48%.
Continue reading for more on today's market, including:
- Sentiment shift could be bullish for the SPX.
- Signal says buy calls on this software stock.
- Plus, Home Depot earnings; quantum breaks out; and an earnings report to know.
5 Things to Know Today
- China's fiscal revenue keeps slowing down. (Reuters)
- Atlanta Fed President Raphael Bostic is leaning toward one more rate cut. (CNBC)
- How did Home Depot handle the tariff overhang?
- Quantum computing took another huge leap forward.
- A lot to like about this retail stock ahead of earnings.
Oil Chops as Gold Extends Mini-Rally
Oil prices drifted lower today as well, with black gold churning amid unresolved Iran-U.S. and Russia-Ukraine negotiations. June-dated West Texas Intermediate (WTI) slipped 13 cents, or 0.2%, to settle at $62.56 per barrel.
Gold gained as the recent market rally came to an end. June-dated gold futures gained 1.6% to finish at $3,284.60 per ounce on the day.
