Nasdaq Logs Highest Close in Over 12 Months

Wall Street's "fear gauge" fell to its lowest close since January 2020

Deputy Editor
Jun 6, 2023 at 4:27 PM
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Stocks eked out minor wins in a muted session today, though the S&P 500 did settle at its highest level in nine months. The tech-heavy Nasdaq scored its highest close since April 2022, while the Cboe Volatility Index fell to its lowest close since January 2020. Elsewhere, the Russell 2000 (RUT) notched its third win in the last four trading days, as well as its highest close since March 7. 

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

  • Options bulls should eye this travel stock.
  • The best SPX stocks to own this month.
  • Plus, crypto stock in legal hot water; T's bear note; and GitLab's AI venture.

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5 Things to Know Today

  1. Boeing's (BA) 787 Dreamliners have a new defect that will delay the aircraft's deliveries. (CNBC)
  2. Shares of telecom name Lumen Technologies (LUMN) fell to a 37-year low amid worries over the company's ability to "sharply diverge from its history. (MarketWatch)
  3. SEC lawsuit sinks Coinbase Global stock.
  4. Analyst issues AT&T stock a lukewarm bull note.
  5. GitLab nabs post-earnings bull notes.

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Oil Prices Pare Previous Session's Gains

Oil futures pared some of yesterday's gains, as investors pondered the global economic outlook. July-dated crude shed 41 cents, or 0.6%, to close at $71.74 per barrel on the day. Meanwhile, the Energy Information Administration (EIA) hiked its crude-price outlooks for 2024 and 2025.

Gold prices, meanwhile, locked in another winning session, as investors awaited the Federal Reserve's upcoming interest rate decision next week. August-dated gold gained $7.20, or 0.4%, to close at $1,981.50 an ounce for the day.

 

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