Today and tomorrow's Fed meeting is investors' primary focus so far this week
The broader market was a mixed bag Tuesday, as focus remains on the Fed's two-day policy meeting that began this afternoon. The blue-chip index shed 120 points, its worst performance of the month so far, shrugging off an outsized move and new all-time high from tech giant Apple (AAPL). Elsewhere, the tech-heavy Nasdaq and S&P 500 both pared early-session losses to clock their second-straight record close.
Continue reading for more on today's market, including:
- 3 cooling bank stocks to watch.
- Bull note triggers strong finish for SHOP.
- Plus; steel stock to avoid; FDA boosts pharma giant; and a "buy the dip" for bears.
5 Things to Know Today
- Boeing's (BA) sales outlook isn't as promising as hoped, with zero 737 Max orders coming in for a second consecutive month, and only four planes overall ordered in May. (CNBC)
- This week's Apple (AAPL) buzz is giving a boost to Affirm (AFRM) shares, after news the pair will partner in payment options within the former's Apple Pay program. (MarketWatch)
- Steel stock suffers 7th-straight loss.
- FDA nod sends pharma giant to new heights.
- Beverage stock for bear traders.
Oil Follows Natural Gas Higher
Natural gas saw an impressive 4% jump today, and oil followed narrowly behind with a more modest gain, as investors await more outlook news from Organization of the Petroleum Exporting Countries (OPEC). July-dated West Intermediate (WTI) crude tacked on 16 cents, or 0.2%, to close at $77.90 per barrel.
Potential inflation data and more Fed news on the U.S. economic outlook is guiding gold prices mostly flat for Tuesday's trading. The June-dated commodity closed near $2,326.60 an ounce.