Apple (AAPL) and Facebook (FB) will report earnings after the bell
The Dow closed 164 points lower today, after the Federal Reserve ended its two-day policy meeting, in which the central bank kept interest rates near zero, as expected. Though inflation pressures could trickle in, Fed Chair Jerome Powell noted that economic recovery is “uneven and far from complete.” After a somewhat volatile day, the S&P 500 Index dipped from its intraday high to land in the red alongside the Nasdaq. Stocks still appear to be struggling for direction this week, but all eyes remain on earnings from Big Tech giants Apple (AAPL) and Facebook (FB) after the close.
Continue reading for more on today's market, including:
- Blue-chip airliner still struggling to beat profit expectations.
- SBUX sees options surge after mixed quarterly report.
- Plus, GT's fundamentals; bulls target chip stock; and the payment technology name making partnerships.
The Dow Jones Industrial Average (DJI - 33,820.38) fell 164.6 points, or 0.5%. Chevron (CVX) topped the list of blue chips for the second-straight day with a 2.4% gain, while Amgen (AMGN) landed at the bottom after dropping 7.4%.
The S&P 500 Index (SPX - 4,183.18) dipped 3.5 points, or 0.08%, while the Nasdaq Composite (IXIC - 14,051.03) lost 39.2 points or 0.3%.
Lastly, the Cboe Volatility Index (VIX - 17.28) lost 0.3 point, or 1.6% for the day.
- Tesla (TSLA) is defending itself in both the U.S. and Germany against environmental rule violations. (CNBC)
- According to a recent report, several U.S. companies went back to this this old habit during the pandemic. (Marketwatch)
- A look at GT's post-earnings history.
- Chip name attracts analyst attention after its quarterly report.
- Why bulls targeted this dow stock.
Oil Prices Settle at Six-Week High
Oil prices closed at their highest level since mid-March, extending yesterday's gains on the Organization of the Petroleum Exporting Countries and its allies (OPEC+) meeting. June-dated crude rose 92 cents, or 1.5%, to settle at $63.86 a barrel.
Gold futures finished lower for their second-straight session, with pressure from rising bond yields. June-dated gold lost $4.90, or 0.3%, to settle at $1,773.90 an ounce.