Late selling pushed the Nasdaq back into the red
Stocks finished Monday's session lower, extending last week's losses. Though chipmakers stabilized, the Nasdaq erased its earlier gains to finish in the red after slipping lower in the final half hour of trading. The S&P 500 also logged a modest loss, while Apple (AAPL) weighed on the Dow, which fell 305 points for its third-consecutive triple-digit drop. Meanwhile, investors continued to monitor tensions in the Middle East, while crypto stocks rallied alongside Bitcoin (BTC).
Continue reading for more on today's market, including:
- What options traders think of Microsoft before earnings.
- This semiconductor stock could extend rebound.
- Plus, another pre-earnings breakdown; target revision boosts IREN; pizza stock fired up after Q2 revenue.
5 Things to Know Today
- Andy Burnham has become Britain's new prime minister. (Reuters)
- SpaceXAI announced the release of its new free Microsoft Excel add-in, which allows users to analyze data and more using plain English prompts. (Stocktwits)
- GE Vernova stock powering up ahead of earnings.
- AI play IREN soared after hiking its ARR target.
- Domino's Pizza stock rose after mixed second-quarter results.
Oil Prices Extend Climb Amid Iran Tensions
Oil prices continued higher after last week's surge, as U.S.-Iran tensions continued to ramp up. August-dated West Texas Intermediate (WTI) crude rose 0.9% to settle at $83.23 per barrel.
August-dated gold futures inched lower as investors weighed rate-hike potential. The precious metal fell 0.1% to finish at $4,015.90 per ounce.