AMZN, NFLX, and AAPL all ended in the red
After spending most of the day waffling below breakeven, the Dow settled roughly 100 points lower, as Wall Street weighed mixed economic data that included another spike in weekly jobless claims. A new wave of U.S.-China tensions is also spooking traders,alongside a new bill that could delist Chinese companies on U.S. exchanges.
The resurgent tech sector took a breather today, too. Amazon (AMZN) hitanother record high only to promptly pivot into the red, while fellow FAANG names Netflix (NFLX) and Apple (AAPL) also cooled off. In response, the Nasdaq and S&P 500 took modest losses.
Continue reading for more on today's market, including:
The 25 worst stocks to own next week. L Brands stock surged today even after a dismal quarterly report.Plus, Mastercard extends remote work for employees; EXPE sinks on Q1 miss; and unpacking Medtronic's turn in the earnings confessional.
The Dow Jones Industrial Average (DJI - 24,474.12) lost 101.8 points, or 0.4% today. Six members of the index finished higher, with Boeing (BA) in the lead with a 4.3% pop, while IBM (IBM) fell to the bottom with a 1.9% drop.
The S&P 500 Index (SPX - 2,948.51) ended 23.1 points, or 0.9% lower, while the Nasdaq Composite (IXIC - 9,284.88) ended 90.9 points, or 1%, lower.
The Cboe Volatility Index (VIX - 29.53) tacked on 1.5 points, or 5.5%.
Data courtesy of Trade-Alert
Oil futures continue to climb on Thursday, hitting a two-and-a-half-month high amid optimism over a rise in demand and a rise in crude production.July-dated crude added 43 cents, or 1.3%, to settle at $34.66 a barrel.
Gold snapped its three-day win streak today, as Wall Street kept an eye on the latest economic data confirming that the worst for the spring sell-off is over. This gave gold futures another boost, with gold for June delivery settling down $30.20, or 1.7% to $1,721.90 an ounce.