With all eyes on chip overlord Nvidia (NVDA) ahead of earnings, stocks took a breather today in a bout of profit taking. The Dow shed 244 points, while the S&P 500 stalled out at a key area on the charts. The Nasdaq also finished modestly lower, with investors wary of the cautious rhetoric found in the Federal Reserve's May meeting minutes. Elsewhere, bond yields are on the move again, with the 30-year Treasury yield climbing back above 5% today.
Continue reading for more on today's market, including:
- 3 big wins for the retail sector today.
- Aerospace stocks are having a moment.
- Plus, the best and worst stocks for June, historically; and a C-suite shakeup to watch.
5 Things to Know Today
- Mortgage rates rose for the third-straight week, but don't tell homebuyers. (CNBC)
- China is making some interesting rare earth export decisions. (Reuters)
- History says buy these 25 stocks for June.
- ... and avoid these 25 stocks next month.
- Vail Resorts is going back to what worked.
Oil Prices Rise After OPEC+ Reaffirms Output Quotas
Oil prices climbed today, after the Organization of the Petroleum Exporting Countries & allies (OPEC+) agreed to leave output quotas as is. July-dated West Texas Intermediate (WTI) gained 95 cents, or 1.6%, to settle at $61.84 per barrel.
Gold prices logged their third loss in the last four sessions today. June-dated gold futures lost 0.2% to finish at $3,293.60 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.
