Big Tech earnings and trade negotiations remain hot topics
Stocks were a mixed bag to start the week. The Dow secured a triple-digit gain and a fifth-straight win, while the S&P 500 just barely finished in the black for its own five-day win streak. All three indexes spent time on both sides of the aisle. The Nasdaq and Big Tech lagged behind, ahead of "Magnificent Seven" names slated to report this week.
Trade negotiations remain a hot topic; little progress seems to have been made with China, though Treasury Secretary Scott Bessent has indicated that India may provide a new deal in the coming weeks. Inflation and economic growth data will be other headlines traders are watching closely this week.
Continue reading for more on today's market, including:
5 Things to Know Today
- International students look to be less eager to study in the U.S., as visa battles continue to be fought for foreign university attendees. (CNBC)
- An electricity blackout has swept Spain, in the largest of its kind since 2006. (Bloomberg)
- Eli Lilly stock stung by double downgrade.
- Plug Power stock could be ripe for a comeback.
- Aerospace giant lands another bull note.
Trade Sentiment, Demand Fears Drag Crude
Sentiment surrounding demand fears and unresolved trade war tensions pushed crude lower for the session. June-dated West Texas Intermediate (WTI) crude fell 97 cents or 1.5%, to finish at $62.05 per barrel.
Gold prices recovered nicely as investors flocked to safe havens amid trade worries. June-dated gold tacked on $62 or 1.9%, to settle around $3,349.60 an ounce.