The Fed and U.S.-Iran deal details are keeping investors on edge
The Dow finished strong today, nabbing a second-straight record close and first-ever close above 52,000. The blue-chip index is now on a four-day win streak, with industrial Caterpillar (CAT) leading the charge. The S&P 500 and Nasdaq weren't as lucky, with chipmakers weighing on the tech-heavy latter. Investors are in a major waiting pattern ahead of the conclusion of the Federal Reserve's policy meeting tomorrow, while also looking for more clarity on the U.S.-Iran peace deal.
Continue reading for more on today's market, including:
- What's next for SpaceX stock?
- And what about the rest of the satellite sector?
- Plus, two earnings reports to monitor this week; and Robinhood cuts offer boost.
5 Things to Know Today
- All eyes are on new Fed Chair Kevin Warsh ahead of tomorrow. (Reuters)
- Sports prediction markets are having a field day right now. (CNBC)
- Homebuilder stock on the move ahead of earnings.
- Options bulls are loving red-hot FedEx stock.
- Robinhood stock streaking after layoff announcement.
There were no earnings of note today.
Oil Extends Pullback on Production Optimism
Crude prices retreated as investors buy in to the prospect of increased flows, especially after reports Qatar could restore its production in a few months. July-dated West Texas Intermediate (WTI) shed 5.8% to close at $76.05 per barrel.
Gold futures gained -- albeit slightly -- as the expectations of a hawkish Fed decreased. August-dated gold futures settled 0.1% higher at $4,354.40 per ounce.