All three major benchmarks closed with monthly and quarterly losses
Stocks struggled for direction amid tariff jitters ahead of the Wednesday deadline. The Dow added 417 points to kick off the week, while the S&P 500 managed a modest win, and the Nasdaq finished quietly in the red after clawing back from a steep triple-digit loss.
All three major indexes notched monthly and quarterly losses. The Nasdaq and S&P 500 suffered their worst monthly percentage drops since December 2022, and also marked their first quarterly losses since September 2023. Plus, the Dow saw its worst month so far this year.
Continue reading for more on today's market, including:
- Amazon.com stock is entering a historically bullish season.
- How options traders are playing Meta Platforms stock's dismal month.
- Plus, SPX levels to watch; a big-time lending merger; and 2 AI stocks responding to tariffs.
5 Things to Know Today
- Biotech stocks sank after the resignation of U.S. Food & Drug Administration (FDA) official Peter Marks. (Reuters)
- What the tariff rollout is looking like ahead of the Wednesday deadline. (MarketWatch)
- A V-shaped rally for the SPX rally could be on hold for now.
- Lending stock soars to record highs on billion-dollar buyout.
- 2 AI stocks making moves today.
There were no notable earnings reports today.
Gold Sees Largest Quarterly Gain Since 1986
Oil prices increased amid President Trump's threats of further energy tariffs on Russia and potential military action towards Iran. May-dated West Texas Intermediate (WTI) crude was last seen up $2.03, or 2.9%, at $71.35, rising for both the month and the quarter.
Gold prices hit record highs once again, jumping above $3,100 for the first time. June-dated gold futures rose $36, or 1.2%, to settle at $3,150.30 an ounce. For the month, prices were up 10.6%, and marked their best quarter since September 1986 with a 19.3% gain.