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 “Masters 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.
Key Updates for Today
- 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)
- The bird flu outbreak ruffled feathers in Texas at a Cal-Maine Foods (CALM) facility, impacting over 1.6 million laying hens. (MarketWatch)
- A brokerage firm is singing praises about this retail giant as a top buy.
- Lackluster revenue takes a toll on Trump-associated stock.
- Options traders converge on the soaring Amazon stock.
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.
Opinions expressed are those of the author and do not necessarily mirror those of Nasdaq, Inc.
