All three major indexes closed in the red today
Stocks finished lower Tuesday as surging Treasury yields pressured tech and raised concerns about consumer spending. The 30-year bond yield touched 5.198%, marking its highest level since 2007, just before the global financial crisis. The S&P 500 and Nasdaq both logged a third-straight daily loss, while the Dow dropped 322 points. Investors also kept a close eye on oil prices after President Donald Trump delayed planned strikes on Iran.
Continue reading for more on today's market, including:
- Contrarian clues help indicate Wall Street's next move.
- Outperforming chip stock boasts strong earnings history ahead of report.
- Plus, SNDK cools off; GOOGL's fresh partnership; and ASTS flashing bull signal.
5 Things to Know Today
- President Donald Trump warns Iran strike remains possible as ceasefire holds and nuclear tensions persist. (Reuters)
- U.S. seizes Iran-linked oil tanker in Indian Ocean as tensions and sanctions pressure escalate. (Wall Street Journal)
- Analyst reiterated SNDK "buy" rating amid broader sector rotation.
- Blackstone and Google team-up on fresh AI cloud venture.
- AST SpaceMobile stock toppled a key trendline.
Oil Prices Fell on Geopolitical Uncertainty
Oil prices pulled back slightly Tuesday, as traders reacted to uncertainty surrounding potential U.S. action against Iran. June-dated West Texas Intermediate (WTI) shed 0.8% to settle at $107.77 per barrel.
Gold dropped Tuesday amid rising Treasury yields. June-dated gold futures fell 1.8% to settle at $4,476.80 per ounce.