Stocks were rangebound today, with the Dow closing slightly lower ahead of a pivotal week on Wall Street. Thanks to an outsized move from semiconductor stocks, the S&P 500 and Nasdaq both finished in the black for their fifth-straight session alongside a fourth consecutive record close. Elsewhere, the Cboe Volatility Index (VIX) snapped a three-day win streak, while investors now see around a 75% chance of a 25 basis-point rate cut in September, per CME's FedWatch.
Continue reading for more on today's market, including:
- Nvidia bulls unfazed by recent pullback.
- 3 beverage stocks to add to your watchlist.
- Plus, biotech buyout buzz; GILD upgraded; and bank stock deflates.
5 Things to Know Today
- French stocks pared losses after last night's election drama. (MarketWatch)
- Consumer credit borrowing is at three-month highs. (Bloomberg)
- Eli Lilly expands its drug portfolio.
- Analyst goes long view on Gilead Sciences stock.
- Bank stock facing stress test headwinds.
There were no earnings of note today
Oil, Gold Take a Breather
Crude prices cooled some more today, as Beryl, a now tropical storm, makes landfall. August-dated West Intermediate (WTI) crude lost 83 cents, or 1%, to settle at $82.33 per barrel for the session.
Gold prices also fell today as profit taking took hold over the safe-haven asset. August-dated gold 1.5%, at $2,362.70 an ounce for the day.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
