Wall Street brushed off inconsistent geopolitical reports
Stocks started off June with the same price action we saw put a bow on May. The Dow pared midday losses for a modest win and fourth-straight record close. The S&P 500 and Nasdaq nabbed their eight-straight gain and fifth-straight record close, the tech-heavy latter drafting off semiconductor momentum. Despite the gains, Wall Street's "fear gauge," the Cboe Volatility Index, snapped a three-day losing streak, as the Israel-Lebanon conflict complicates U.S.-Iran peace talks.
Continue reading for more on today's market, including:
- 25 stocks to target this month, historically.
- Micron stock cannot be stopped.
- Plus, Microsoft options buzz; lululemon earnings; and IBM sees analyst praise.
5 Things to Know Today
- Former Fed Chair Jerome Powell has a warning for President Donald Trump. (CNBC)
- Manufacturing activity is at four-year highs amid supply constraints. (Reuters)
- MSFT options traders make their Nvidia move.
- Lululemon earnings: what you need to know.
- 'Big Blue' racking up the bull notes.
Oil Prices Log Best Day Since Late April
Oil prices gained today, logging their largest one-day gain since April 2, after President Trump said he doesn't care if talks with Iran end. July-dated West Texas Intermediate (WTI) added over 5% to settle at $92.16 a barrel.
Gold prices fell this afternoon as inflation fears persist, despite the U.S.-Iran conflict continuing to drag on. June-dated gold futures lost 1.9% to $4,506.30 per ounce.