A solid earnings reaction for MCD wasn't enough to lift the DJI
U.S. stocks fell today, with the Dow giving up an early lead. A solid earnings showing from McDonald's (MCD) and a strong day from Apple (AAPL) weren't enough to keep the blue-chip index afloat, with Verizon (VZ) stock among the telecoms hit after an official merger announcement from Sprint (S) and T-Mobile (TMUS). In addition, traders also weighed the latest inflation data ahead of Wednesday's Fed meeting. Despite today's losses, though, the Dow, S&P, and Nasdaq managed to eke out monthly gains.
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The S&P 500 Index (SPX - 2,648.05) lost 21.9 points, or 0.8%, while the tech-heavy Nasdaq Composite (IXIC - 7,066.27) gave up 53.5 points, or 0.8%. The indexes picked up 0.3% and 0.04% for the month, respectively.
The Cboe Volatility Index (VIX - 15.93) gained 0.5 point, or 3.4%, on the day. The market's "fear gauge" took a 20.2% loss for the month.
Data courtesy of Trade-Alert
Oil managed to recover from an underwhelming start, after Israel's Prime Minister Benjamin Netanyahu said he has proof that "Iran lied, big time" about nuclear weapons programs. The announcement fueled expectations that President Donald Trump will impose sanctions on oil-rich Iran. June-dated crude finished up 47 cents, or 0.7%, at $68.57 per barrel.
Gold suffered after the dollar saw a solid day of gains and geopolitical tensions continued to ease following last week's meeting of the Koreas.June-dated futures finished down $4.20, or 0.3%, to settle at $1,319.20 per ounce.