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.



5 Things to Know Today

  1. The Federal Trade Commission (FTC) today sued (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


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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