The Dow snapped a three-day losing streak with its best single-session gain of the year
The Fed's favorite inflation gauge, the core PCE, was in-line with expectations, but Wall Street still turned in a lackluster session. While the Dow managed to snap a three-day losing streak with its best single-session pop of 2024, it closed the week lower. The Nasdaq and S&P 500 both turned in their first weekly loss in six, after investors took to profit taking amid higher Treasury yields. For the month, all three benchmarks settled higher after a downtrodden April performance.
Continue reading for more on today's market, including:
- 3 mining stocks to watch as metals flash.
- How these tech stocks moved after earnings.
- Plus, a biotech in focus; two retail stocks to watch; and a trade recommendation.
5 Things to Know Today
- A New York jury found Donald Trump guilty. What happens now? (CNBC)
- NATO foreign ministers met to discuss this summer's leaders' summit, just after U.S. President Joe Biden gave Ukraine a crucial go-ahead. (MarketWatch)
- Breaking down this biotech firm's data update.
- These 2 retail stocks had different post-earnings reactions.
- Want to boost your portfolio? Consider Boot Barn stock.
Oil Prices Post Biggest Monthly Decline of the Year
Oil futures fell Friday and marked their largest monthly decline of 2024 ahead of a meeting from the Organization of the Petroleum Exporting Countries and its allies (OPEC+). For the day, July-dated West Intermediate (WTI) crude lost 92 cents, or 1.2%, at $76.99 a barrel for the session.
Gold futures also dropped, as investors parsed today's inflation report. For the session, June-dated gold shed 0.9% at $2,346.40 per ounce; however, bullion gained 1.8% for the month.