HomeMarket NewsMarket Meltdown: Dow Dips as Second-Quarter Blues Continue

Market Meltdown: Dow Dips as Second-Quarter Blues Continue

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The market waters have gotten choppy in the second quarter, with the Dow facing another triple-digit drop today – a performance not seen in weeks. The rumblings in the investor realm grow louder as Treasury yields creep up, signaling a bleak outlook on the likelihood of interest rate cuts in June, amplified by last week’s heavy inflation data. Meanwhile, the Nasdaq is shedding its tech-weight while the S&P 500 is tiptoeing closely behind.

Stay tuned for a deeper dive into today’s market activities:

  • A Chinese e-tail stock teetering on the edge of a bearish trend.
  • Will airline stocks remain β€œMasters of the Air” in the long run?
  • Time to invest in a retail gem, watch Trump stock plummet, and witness the frenzy around an outperforming FAANG stock.

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Key Updates for Today

  1. Before former U.S. Treasury Secretary Janet Yellen’s visit to China, President Joe Biden engaged in a call with Chinese President Xi Jinping. (CNBC)
  2. The bird flu outbreak ruffled feathers in Texas at a Cal-Maine Foods (CALM) facility, impacting over 1.6 million laying hens. (MarketWatch)Β 
  3. A brokerage firm is singing praises about this retail giant as a top buy.
  4. Lackluster revenue takes a toll on Trump-associated stock.
  5. Options traders converge on the soaring Amazon stock.

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Oil and Gold Rally Amid Middle East Turmoil

The heat in the Middle East is pushing oil prices north. May’s West Texas Intermediate (WTI) sprang $1.44, or 1.7%, to finish at $85.15 per barrel, a feat unseen since October.

In the wake of international unrest, gold isn’t left behind, scaling new heights despite a robust U.S. dollar. June’s gold jumped $24.70, representing a 1% increase, and settling at $2,281.80 per ounce.

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Opinions expressed are those of the author and do not necessarily mirror those of Nasdaq, Inc.

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