Dow Recoups on China Trade Reports
China said it would still carry on with trade talks next week, despite Trump's earlier tweets
The Dow won back most of its earlier losses, ending only 66 points below breakeven after this morning's dramatic 471-point drop. The index was mostly bolstered by reports that China would still be traveling to the U.S. next week to continue trade talks, despite President Donald Trump's inflammatory tweets over tariff hikes. Gains from Disney and McDonald's helped put some wind at the Dow's back, as well. Against this backdrop, the Nasdaq and S&P also finished slightly lower.
Continue reading for more on today's market, including:
This food stock swung higher on a Buffett boost. Options traders flocked to this stock today on Amazon buzz. The pharma stock skyrocketed on an FDA nod. Plus, option bears slam HTZ stock before earnings; don't sweat this Dow stock's pullback; J.P. Morgan Securities likes this solar power stock.The Dow Jones Industrial Average (DJI - 26,438.48) lost 66.5 points, or 0.3%, in today's trading. UnitedHealth (UNH) led the 11 gainers with a 3.7% win, while Nike (NKE) sunk to the bottom of the 19 losers, down 2.5%.
The S&P 500 Index (SPX - 2,932.47) was 13.2 points, or 0.5%, lower at the close, while the Nasdaq Composite (IXIC - 8,123.29) was down 40.7 points, or 0.5%.
The Cboe Volatility Index (VIX - 15.44) was 2.6 points, or nearly 20%, higher.
5 Items on our Radar Today
Greenlight Capital president and founder David Einhorn isn't buying electric carmaker Tesla's promise of autonomous cars. Einhorn, who has famously shorted TSLA shares, criticized the plan in a strongly worded speech at the Sohn Investment Conference in Manhattan earlier today. (CNBC)The internet was abuzz after last night's "Game of Thrones" episode when an out-of-place Starbucks coffee cup saw several seconds of screen time. This accidental product placement could mean serious profit for the coffee giant, according to Hollywood Branded CEO Stacy Jones, who estimated the publicity value to be north of $1 million. (MarketWatch)Options bears are loading up on Hertz stock puts ahead of earnings.Don't sweat this Dow stock's recent pullback, says signal. J.P. Morgan Securities sees more upside for this solar energy name.
Data courtesy of Trade-Alert
Oil, Gold Harden After Trump Tariff Tweets
Its been a volatile day for oil amid Trump's trade comments. The commodity touched a one-month low earlier today before erasing its losses to end 31 cents, or 0.5% higher,at $62.25 per barrel -- likely bolstered by rising political turmoil in the Middle East.
Early stock market uncertainty had gold futures higher, too. Gold for June delivery rose $2.50, or 0.2%, to land at $1,283.80 per ounce.