The S&P 500 and Dow finished the week lower
The major indexes finished the day lower after a wild week of inflation-focused trading, with the Dow weighed down by Nike's (NKE) sharp post-earnings drop. The DJI and S&P 500 inched into the red for the week, while the Nasdaq notched its fourth consecutive weekly win. For the month, all three major indexes notched healthy gains, while the blue-chip index was the only loser in the second quarter.
Continue reading for more on today's market, including:
5 Things to Know Today
- Former Trump aid Steven Bannon will begin his four-month jail stint on Monday after being denied an appeal by the Supreme Court. (CNBC)
- After a 14-year reign, Conservatives in the U.K. are widely anticipated to be knocked off by Labour Party leader Keir Starmer during the region's July 4 election. (Bloomberg)
- Behind Nike stock's worst day ever.
- AI potential lands REIT a bull note.
- Nokia buyout deal sent tech stock surging.
Oil Bags Daily, Weekly, Monthly Wins
Oil futures rose again, higher as the stress surrounding Middle East tensions failed to subside. For the session, August-dated West Intermediate (WTI) crude gained 61 cents, or 0.8%, to settle at $82.35 per barrel for the day, 0.9% higher for the week, up 7% for June, and down 1.8% for the quarter.
Gold futures rode the wave of lowering Treasury yields and an expectation for a September rate hike in response to today's inflation update. August-dated gold was last seen up 0.1% to $2,339.80 an ounce for the day, down 0.3% for the week, off 1.2% for the month, and 3.4% higher for the quarter.