The Dow, S&P 500, and Nasdaq all spent time on both sides of breakeven today
The Dow took another breather today, as it continues to consolidate around 39,000. The S&P 500 and Nasdaq scored their fifth-straight record closes -- albeit just barely -- as well as their sixth-straight win, the former's longest win streak since January.
All three indexes pared steeper gains in the afternoon, even after Fed Chair Jerome Powell told the Senate Banking Committee that “reducing policy restraint too late or too little could unduly weaken economic activity and employment.” Powell will speak in front of the House Financial Services Committee tomorrow.
Continue reading for more on today's market, including:
5 Things to Know Today
- Chicago Fed President Austan Goolsbee makes the rate cut case. (MarketWatch)
- Chip packaging research gets a boost from the Biden administration. (Bloomberg)
- Netflix shares are ready to run at $700.
- When will analysts come around on Intel stock?
- Fintech stock with no momentum.
There were no earnings of note today
Gold Flat Ahead of Inflation Data
Crude prices fell again today, as the damage assessment from tropical storm Beryl looks to be milder than expected to the energy grid. August-dated West Intermediate (WTI) crude lost 92 cents, or 1.1%, to settle at $81.41 per barrel.
Gold prices were mostly flat today, holding steady ahead of the inflation reports later this week. August-dated gold added 0.2% to settle at $2,367.80 an ounce for the day.