Nvidia Earnings Loom as U.S. Stocks Experience Profit Taking
Investors paused for profit taking as focus shifted to Nvidia (NVDA) ahead of its earnings report. The Dow fell 244 points, and the S&P 500 faced resistance at a key area on the charts. The Nasdaq also closed modestly lower, with market sentiments dampened by cautious remarks in the Federal Reserve’s May meeting minutes. In bond markets, the 30-year Treasury yield increased, rising above 5% today.
Continue reading for more on today’s market, including:
- Three notable gains in the retail sector.
- Remarkable performance from aerospace stocks.
- Insights on the best and worst stocks for June, along with a key C-suite reshuffle.
5 Things to Know Today
- Mortgage rates rose for the third consecutive week, but homebuyers remain undeterred. (CNBC)
- China made significant rare earth export decisions. (Reuters)
- History suggests buying these 25 stocks for June.
- Avoid these 25 stocks next month based on historical trends.
- Vail Resorts is returning to proven strategies.
Oil Prices Rise After OPEC+ Maintains Output Quotas
Following OPEC+’s decision to uphold output quotas, oil prices increased. July-dated West Texas Intermediate (WTI) rose by 95 cents, or 1.6%, settling at $61.84 per barrel.
In contrast, gold prices faced their third decline in four sessions, with June-dated gold futures retreating by 0.2% to close 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.
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