Stocks Turn in 3rd-Straight Loss After Hawkish Comments

Oil prices moved higher

Deputy Editor
Jun 21, 2023 at 4:26 PM
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The market is continuing to pull back from its extended rally, as all three major indexes turned in their third-straight daily losses on the heels of Federal Reserve Chairman Jerome Powell's hawkish commentary. The testimony sent Treasury yields higher, while the Dow and Nasdaq finished the day with a triple-digit drops, and the S&P 500 moved modestly lower. 

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

  • Don't sweat this retail stock's latest pullback.
  • This energy stock could be due for a bounce.
  • Plus, FedEx's earnings report; EV stock's rally; and bulls' favorite streaming stock.

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5 Things to Know Today

  1. The Federal Trade Commission (FTC) today sued Amazon.com (AMZN) on concerns of "deceptive" Amazon Prime sign-up and cancellation practices. (CNBC)
  2. First Citizens Bancshares raked in a $9.5 billion profit after acquiring Silicon Valley Bank. (MarketWatch)
  3. Unpacking FedEx's quarterly results.
  4. Is this EV stock's rally over?
  5. Streaming stock attracted bulls.

Corporate Earnings June 21

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Oil Rises on U.S. Monetary Policy Fears

Crude futures moved higher Tuesday amid monetary policy tightening fears. July-dated crude lost $1.34, or 1.9%, to close at $72.53 per barrel on the day.

August-dated gold lost $2.80, or 0.1%, to close at $1,944.90 an ounce, after the central bank's latest commentary weighed on bullion's appeal.

 

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