With housing data out of the way, all eyes will be on Friday's inflation report
After the release of the latest home sales data, which showed an 11.3% drop from April, stocks finished the day modestly higher. The Dow managed to pare its steep intraday losses, eking out a finish in the black. The tech-heavy Nasdaq also finished slightly higher, while the S&P 500 managed to climb just above breakeven in the final minutes.
Continue reading for more on today's market, including:
- Gold stocks to watch before inflation updates.
- EV stock suffering partnership headwinds.
- Plus, finance giant enjoys analyst praise; forecast cut drags airliner; and shipping stock sees post-earnings surge.
5 Things to Know Today
- The battle to the top continues, as Amazon.com (AMZN) today hit the $2 trillion market cap threshold. (CNBC)
- Cereal and food manufacturer General Mills (GIS) is falling on Wall Street, struggling on the back of an earnings blunder. (MarketWatch)
- Investing giant lands analyst praise.
- Forecast cut sends LUV lower.
- FedEx stock surges after fiscal fourth-quarter report.
Oil, Gold Suffer Second Consecutive Loss
All eyes were on the weekly crude inventories report, which showed supplies rising as demand in gasoline drops. August-dated West Intermediate (WTI) crude fell for a second day, off 18 cents, or 0.2%, to settle at $80.65 per barrel.
Also marking a back-to-back loss was gold, with the commodity hitting its lowest level in over seven weeks, though the catalyst remains unclear. August-dated gold dropped $17.60 or 0.8%, to settle near $2,313.20 an ounce.