The Nasdaq notched its eighth-straight win and a record-high close
After hitting a record intraday high, the Nasdaq finished up nearly 75 points, locking in its eighth straight daily win -- for the first time since December. Meanwhile, the Dow was once again bolstered by a rise from FAANG names. Most notably, Apple (AAPL) gained over 2%, hitting a record peak of its own after unveiling a new operating system at the Worldwide Developers Conference (WWDC). In other news, the S&P 500 rose as well, now up over 40% from its March 23 intraday low, as investors remained optimistic regarding the U.S.-China trade deal.
The Dow Jones Industrial Average (DJI - 26,156.10) added 131.1 points, or 0.5% for the day. Nike (NKE) rose to the top today, finishing 2.4% higher. Meanwhile, IBM (IBM) lagged the list, closing the day 1.4% lower.
Meanwhile, the S&P 500 Index (SPX - 3,131.29) dropped 13.4 points, or 0.4%, and the Nasdaq Composite (IXIC - 10,131.37) added 74.9 points, or 0.7%.
Meanwhile, the Cboe Volatility Index (VIX - 31.37) lost 0.4 points, or 1.3%, for the day.
5 Items on Our Radar Today
- According to St. Louis Fed President James Bullard, the debt companies are taking on in order to survive the pandemic isn't a surefire signal that an asset bubble is forming. (MarketWatch)
- New U.S. single-family home sales came in better than expected last month, signaling the housing market's prepping for recovery after suffering at the hands of the coronavirus pandemic. (Reuters)
- BlackRock's CEO announced the company's commitment to increase its Black workforce.
- One analyst just dealt a harsh hand to MU.
- Salesforce.com stock is inching toward record highs.
Data courtesy of Trade-Alert
Gold Surges to Seven-Year High
Oil fell in today's session after hovering near its early-March highs. Black gold's tumble today was fueled by U.S. President Donald Trump's attempts to qualm jitters surrounding the U.S.-China trade agreement. As a result, August-dated crude lost 36 cents, or 0.8%, to settle
at $40.37 per barrel for the day.
Gold price surged for a third-consecutive day, rising to their highest point since October 2012 thanks to a weakness in the U.S. dollar as well as stimulus packages dished out by multiple central banks. Gold for August delivery added $15.60, or 0.8%, to settle at $1,782 per ounce on the day.