Dow Dragged Triple Digits as FOMC Meeting Continues

Investors are awaiting any U.S. trade deals

Emma Duncan

Managing Editor

May 6, 2025 at 4:23 PM

Wall Street suffered its second day of losses today, with the Dow dropping 389 points as investors monitor the Federal Reserve Open Market Committee (FOMC) meeting and a slew of fresh earnings reports. Trade tensions continued as well, with unfinished deals looming as negotiations began between President Trump and Canadian Prime Minister Mark Carney. Meanwhile, trade deficit data was also in focus, widening more than anticipated in March.

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

25 ETFs to watch amid tariff trouble.
Earnings miss wipes out Clorox stock.
Plus, bulls circle telehealth name; pharma stocks making major moves; and PLTR dragged despite revenue win.

5 Things to Know Today

Within 30 days, around 195,000 defaulted student loan borrowers will begin having their wages garnished, per a change by Trump in the now five-year hiatus. (CNBC)
India and the U.K. have finalized a new trade deal, with hopes to ease some fallout from the increased tariffs out of the U.S. (Bloomberg)
Bulls blast telehealth giant after quarterly report.
Two pharma stocks making waves after earnings.
Palantir shares plunge despite revenue beat.

earningsmay6

UVOL May6

Gold, Oil Enjoy Healthy Session Wins

Increasing demand from China and Europe is pushing the price of crude higher, allowing the commodity to recover some of its recent losses. June-dated West Texas Intermediate (WTI) oil rose $2.13, or 3.73%, to settle at $59.26 per barrel.

The Fed meeting kept bullion in the spotlight, pushing it higher for the session. June-dated gold surged 2.4%, to close around a two week high of $3,422.90 an ounce.

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