Stocks Surge to Start June as "Fear Gauge" Folds

Oil prices reclaimed the $70 level today

Managing Editor
Jun 1, 2023 at 4:24 PM
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Stocks kicked off June on the right foot, with the Dow and Nasdaq enjoying triple-digit gains despite a sluggish start. The tech-heavy latter, along with the S&P 500 logged their highest close since August 2022. All eyes remain on debt ceiling talks, with the bill now slated to hit the Senate floor for approval. Elsewhere, ADP private payrolls data showed larger-than-expected growth, and the Cboe Volatility Index (VIX) logged its lowest close since November 2021.

Continue reading for more on today's market, including:

  • How to play large-cap market gains.
  • An options traders' best-kept secret weapon.
  • Plus, EV stock with steep losses; retailer blasted in options pits; and how subscribers doubled their money quick.

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 Things to Know Today N

  1. What's slated for Apple's (AAPL) big step into the virtual reality world. (CNBC)
  2. Making sense of the multi-week debt ceiling debate. (MarketWatch)
  3. Stock offering just sent EV leader lower.
  4. Options players blast retail giant.
  5. Oracle play gave subs a doubled profit.

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Crude Reverses Luck, Reclaims $70

Crude prices managed to recover some of its recent losses in today's trading, shifting back above the key $70 level for the first time in nearly a week. West Texas Intermediate (WTI) July-dated crude added $2.01, or 3%, to close at $70.10 per barrel.

Gold is also making upbeat moves too, climbing ahead of the round $2,000 mark for the first time in weeks. August-dated gold added $13.40, or 0.7%, to close at $1,995.50 an ounce.

 

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