Nasdaq Ekes Out 3rd-Straight Gain Despite Volatility
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Rising bond yields checked optimism stemming from a batch of strong earnings today, with Tesla (TSLA) adding roughly 12% after its report. Stocks finished mixed — the Dow lower, the S&P 500 flat, and the Nasdaq slightly higher to eke out its third-straight gain. Traders are now shifting their attention to tomorrow’s gross domestic product (GDP) reading, which is expected to show that the U.S. economy grew 2% or more in the first quarter.
Continue reading for more on today’s market, including:
- Keep tabs on this affordably priced airline stock.
- Behind Enphase Energy’s disappointing results.
- Plus, ABNB upgraded; TXN’s beat-and-raise; and should traders buy Nvidia stock’s dip?
5 Things to Know Today
- This year is shaping up to be a good one for new car sales, as deals and inventories rise. (MarketWatch)
- TikTok CEO Shou Chew says potential U.S. ban will be brought to court: “We aren’t going anywhere.” (Reuters)
- Summer Olympics boosts Airbnb demand.
- Chip stock seeing bull notes after beat-and-raise.
- Digging into stock returns after large market cap losses.
Gold Falls Once Again
Investors continue to monitor the Middle East, while unpacking U.S. data showing a drop in weekly demand for gasoline. June-dated West Texas Intermediate (WTI) crude fell 55 cents, or 0.7%, to settle at $82.81 a barrel.
Gold prices dropped for the third day. June-dated gold futures fell 0.2% to settle at $2,336.90 per ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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