Stocks Log Modest Finish as Dow Pares Intraday Plunge

Both gold and oil suffered a back-to-back loss today

Managing Editor
Jun 26, 2024 at 4:25 PM
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After the release of the latest home sales data, which showed an 11.3% drop from April, stocks finished the day modestly higher. The Dow managed to pare its steep intraday losses, eking out a finish in the black. The tech-heavy Nasdaq also finished slightly higher, while the S&P 500 managed to climb just above breakeven in the final minutes.

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

  • Gold stocks to watch before inflation updates.
  • EV stock suffering partnership headwinds.
  • Plus, finance giant enjoys analyst praise; forecast cut drags airliner; and shipping stock sees post-earnings surge. 

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5 Things to Know Today 

  1. The battle to the top continues, as Amazon.com (AMZN) today hit the $2 trillion market cap threshold. (CNBC)
  2. Cereal and food manufacturer General Mills (GIS) is falling on Wall Street, struggling on the back of an earnings blunder. (MarketWatch)
  3. Investing giant lands analyst praise.
  4. Forecast cut sends LUV lower.
  5. FedEx stock surges after fiscal fourth-quarter report.

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Oil, Gold Suffer Second Consecutive Loss

All eyes were on the weekly crude inventories report, which showed supplies rising as demand in gasoline drops. August-dated West Intermediate (WTI) crude fell for a second day, off 18 cents, or 0.2%, to settle at $80.65 per barrel.

Also marking a back-to-back loss was gold, with the commodity hitting its lowest level in over seven weeks, though the catalyst remains unclear. August-dated gold dropped $17.60 or 0.8%, to settle near $2,313.20 an ounce.

 

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