Dow, S&P 500 3-Day Win Streaks Snapped

The Nasdaq spent time on both sides of breakeven today

Managing Editor
Jul 5, 2023 at 4:34 PM
facebook X logo linkedin


The Dow logged a triple-digit loss today, halting its win streak at three, with the Fed meeting minutes from June unable to spark a late-afternoon rally. The central bank's notes signaled more interest rate hikes ahead -- albeit at a slower pace. What rattled investors today was news that an unspecified number of Fed officials were in favor of a rate hike last month. The S&P 500 also saw its three-day win streak snapped, while the Nasdaq finished marginally lower, despite a brief foray in the black this morning.

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

  • Options traders who bought the dip on this stock are thrilled.
  • See what cooled off UPS stock today.
  • Plus, chip stock breaks out; Rivian's big day; and how to protect your stock picks. 

Summary 0705

NYSE Nasdaq 0705

5 Things to Know Today

  1. New vehicle sales are rising, even amid interest rate hikes. (Reuters)
  2. What would restricting China's cloud access mean for chip stocks? (MarketWatch)
  3. A short squeeze could mean more gains for Wolfspeed stock.
  4. EV giant now in the black for 2023.
  5. Podcast: protective puts can help a bullish options trader.

There are no earnings reports of note today.

UVOL 0705

Gold Dinged by Hawkish Fed Minutes

Oil futures climbed today, boosted by Saudi Arabia comments at an Organization of the Petroleum Exporting Countries & allies (OPEC+) seminar. August-dated crude tacked on $2.00, or 2.9%, to settle at $71.79 per barrel -- a two-week high.

Gold prices fell as the details of the Fed minutes were unpacked. August-dated gold shed $2.40, or 0.1%, to close at $1,927.10 an ounce. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI