Dow Logs 5th-Straight Win as Nasdaq, Nvidia Cool

The Nasdaq logged its worst single-session drop in nearly two months

Managing Editor
Jun 24, 2024 at 4:25 PM
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The Dow continued its comeback today, buoyed by outsized moves from finance and energy stocks. The blue-chip index scored a 260-point pop, for a fifth-straight win and highest close since May 22. Profit taking in tech -- Nvidia (NVDA) shed 6.7% today -- sent the Nasdaq down 192 points for its worst session since April 30. Elsewhere, the S&P 500 traded on both sides of breakeven throughout the day, but ultimately logged a third-straight loss.

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

  • Big bank stock boosted subscriber profits.
  • 3 oil stocks ripe for a potential rebound.
  • Plus, BUD bags upgrade; gym giant upgraded; and a retail stock 'buy' signal.

Closing Indexes Summary June 24

NYSE and Nasdaq Stats June 24

 

5 Things to Know Today 

  1. Disney's "Inside Out 2" has bounded its way up the charts, already becoming the highest-grossing theater release for 2024. (CNBC)
  2. Coinbase Global (COIN) submerged in hot water on regulatory crypto discrepancies. (MarketWatch)
  3. Beer stock bags upgrade on AI, cashflow outlook.
  4. Bull note lifts Planet Fitness stock.
  5. Outperforming retailer ready to run even higher.

There were no earnings of note today.

Unusual Options Activity June 24

Oil Rises on Middle East Tension, Demand

Energy demand outlook and Middle Eastern tensions has sent August-dated West Intermediate (WTI) crude up 90 cents, or 1.1%, to settle at $81.63 per barrel. This comes on the heels of back-to-back weekly wins for the black gold.

Anticipation for the upcoming inflation reading alongside a falling U.S. dollar sent gold futures higher today. August-dated gold added 0.6%, to settle near $2,346.10 an ounce.

 

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