Stocks Close Mixed But Nvidia Falls Into Correction Territory | Wall Street Today
U.S. stock indices were mixed, while Nvidia's stock falls into correction territory with an almost $400 billion plunge. Meanwhile, investors are awaiting May's personal consumption expenditure data and the Federal Reserve's preferred inflation gague this week.
The Dow advanced 0.67%. The S&P 500 traded down 0.31%, while the tech-heavy Nasdaq Composite declined 1.09%.
MACRO
San Francisco Federal Reserve President Mary Daly sees more work for higher interest rates to do to reduce demand and control inflation in the U.S. economy. For now, interest rates aren't going anywhere, Daly said in remarks before the Commonwealth Club World Affairs of California on Monday.
However, Federal Reserve Bank of Chicago President Austan Goolsbee on Monday laid out a dovish case for considering potential cuts in interest rates in coming months.
SECTORS
Oil prices rose on Monday, extending gains from the past two weeks. Traders were watching developments in the Middle East and signs of increasing energy demand. Prices were recovering from a slump in early June when they hit their lowest point since February. West Texas Intermediate tops above $81 a barrel, rebounding from Friday's decline.
MOVERS
$NVIDIA(NVDA.US$ stock was in correction territory Monday, falling 6%, trading down more than 11% from its record high last week, when it briefly became the most valuable company in the world.
$Trump Media & Technology(DJT.US$ shares were charging 20% higher Monday after the parent company of former President Donald Trump's Truth Social Platform it anticipates proceeds of more than $69.4 million from the exercise of warrants last Thursday and Friday.
$IBM Corp(IBM.US$ stock headed higher Monday on a bullish call by Goldman Sachs analyst James Schneider, who picked up coverage of the software, services and mainframe company with a Buy rating and $200 price target, about 16% above Friday's closing level.
$RXO Inc(RXO.US$ stock soars 22% to record high on $1 billion deal to buy Coyote Logistics from United Parcel Service.
$Affirm Holdings(AFRM.US$ shares were surging 12% as Goldman Sachs analyst Mike Ng upgrades the stock to a buy rating, and adjusts the target price from $20 to $42.
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo News Official Account
In 10 minutes it’s history. At four I’m a dinosaur!
38KFollowers
26Following
41KVisitors
Follow
Paul bin Anthony : good morning My lovely sunny day
Paul bin Anthony : sorry
i hopefully and bigger than from young children together with us right away from anyone about the best person in the world with this tq God bless 
Amen
Talented Mr Ripley : buy SQQQ