Dow Snaps Winning Streak; Tech Continues to Slide

The Dow closed 135 points lower, breaking its four-day winning streak, as Microsoft (MSFT) and Apple (AAPL) both traded down. FAANG stocks have been having a rough week, leading the Nasdaq firmly below fair value today, with the S&P 500 in the red as well. Disappointing weekly jobless claims data has been no help to the indexes either, though, retail sales did jump 7.5% for June, topping analyst expectations. Globally, equities suffered as stocks in China reported a major sell-off. Meanwhile, investors are looking ahead at Netflix (NFLX) earnings, which are due out after the close. 

• Calls took off for big bank stock following earnings. 
• Cruise stock crumbles on million-dollar offering. 
• Plus, social media giant dips after high-profile hack; discount retailer draws bull note; and a look at this airline ahead of earnings. 

The Dow Jones Industrial Average (DJI - 26,734.71) dropped 135.4 points, or 0.5% for the day. Walgreen Boots Alliance (WBA) rose to the top of the Dow, finishing 1.6% higher, while Boeing (BA) fell to the bottom, losing 4.9%.

Meanwhile, the S&P 500 Index (SPX - 3,215.57) fell 11 points, or 0.3% for the day. The Nasdaq Composite (IXIC - 10,473.83) lost 76.7 points, or 0.7% for today's session. 

Meanwhile, the Cboe Volatility Index (VIX - 28.00) gained 0.2 point, or 0.9%, for the day.

5 Items on Our Radar Today

1.  Senate democrats unveiled a $350 billion investment proposal to infuse into Black communities for both immediate and long-term use. $200 billion of the investment would come from unused funds left over from the CARES Act, the $2 trillion Federal stimulus package from March. (CNBC)
2. As various states navigate the resurgence of coronavirus, Georgia Governor Brian Kemp is banning cities and counties from requiring masks in public spaces. Mask orders had been covering 1.4 million of Georgia's residents through local officials. (MarketWatch)
3. Twitter stock trades lower after hackers compromise accounts. 
4. Dollar Tree stock topples resistance following upgrade. 
5. Looking at United Airlines' rocky few months ahead of earnings. 

Data courtesy of Trade-Alert

Oil, Gold Finish Lower Amid Uncertainty

One day after the OPEC+ decision, oil futures ended lower, wary of the decline in global equities. August-dated crude fell 45 cents, or 1.1%, to settle at $40.75 a barrel.

Gold futures ended lower today, as the U.S. dollar looked to make a rebound. Gold for August delivery fell $13.50, or 0.7%, the lowest finish in more than a week, to settle at $1,800.30 an ounce.