U.S. and Chinese officials will talk trade tomorrow
After a shaky start, the Dow managed to rebound around midday, and was up more than 150 points at its session peak. However, the index erased most of those gains by the close, and the S&P and Nasdaq settled a volatile session lower, as Wall Street weighed the latest trade headlines. While President Donald Trump said Chinese Vice Premier Liu He is headed to Washington this week to strike a trade deal, China said it would retaliate if the U.S. does, in fact, hike tariffs on Chinese goods this Friday. Elsewhere, an afternoon sell-off from Intel (INTC) also chipped away at the Dow's lead.
Continue reading for more on today's market, including:
- How traders are speculating with new Beyond Meat options.
- Bull signals are flashing for these 2 athleisure stocks.
- 2 stocks that could make huge moves this week.
- Plus, MTCH stock gets a post-earnings boost; the analyst who downgraded X stock; and the tech stock to buy on sale.
The Dow Jones Industrial Average (DJI - 25,967.33) added 2.2 points, or 0.01%, in today's trading. Fifteen of the 30 stocks finished higher, with United Technologies (UTX) in the lead on a 1.2% pop, while Intel sunk to the bottom with a 2.5% drop.
The S&P 500 Index (SPX - 2,879.42) inched 4.6 points, or 0.2%, lower by the close, for its first three-day losing streak in two months, while the Nasdaq Composite (IXIC - 7,943.32) ended 20.4 points, or 0.3%, lower.
The Cboe Volatility Index (VIX - 19.40) finished 0.08 point, or 0.4%, higher.
5 Items on our Radar Today
- In an effort to discourage tobacco sales to minors, Walmart will hike its minimum age for tobacco purchases from 18 to 21, starting July 1. The raised age limit comes after the Food and Drug Administration (FDA) warned several big-box and grocery stores that they would be fined for selling tobacco to minors, and weighed on tobacco stocks like Philip Morris. (CNBC)
- England's Prince Harry and his wife, American actress (now Duchess of Sussex) Meghan Markle, today said they named their newborn son Archie Harrison Mountbatten-Windsor. The boy is now seventh in line to the British throne. (Reuters)
- Match Group stock soared after earnings.
- The steel stock hammered after an analyst drubbing.
- 2 reasons to like this tech stock right now.
Data courtesy of Trade-Alert
Oil Up On Unexpected Crude Inventories Drop
Oil prices were back up after U.S. crude inventories unexpectedly fell by 4 million barrels last week. June-dated oil tacked on 72 cents, or 1.2%, to land at $62.12 a barrel.
Gold edged lower, as a midday rebound in stocks lessened the metal's safe-haven demand. June-delivered gold was $4.20, or 0.3%, lower to settle at $1,281.40 per ounce.