Today At A Glance:
U.S. stocks closed lower as investors exercised caution ahead of Nvidia’s highly anticipated earnings report. The S&P 500 and Dow Jones Industrial Average each declined by 0.6%, while the Nasdaq Composite fell 0.5%. The release of the Federal Reserve’s May meeting minutes, which indicated a “wait-and-see” approach to interest rates, contributed to the subdued market sentiment. Retail stocks experienced mixed reactions; Abercrombie & Fitch surged nearly 15% on strong earnings, whereas Macy’s faced volatility despite exceeding expectations. Overall, the market’s retreat followed a recent rally that had brought indexes close to record highs.
Today’s Index Performance:
- S&P 500: Opened at 5,925.54 and closed at 5,888.55, a decrease of 0.6%.
- Dow Jones Industrial Average: Opened at 42,343.65 and closed at 42,098.70, down 0.6%.
- NASDAQ Composite: Opened at 19,232.60 and closed at 19,100.94, a decline of 0.5%.
Gainers Of Note:
- Joby Aviation (NYSE: JOBY): Shares soared 28.9% following a $250 million investment from Toyota.
- Abercrombie & Fitch (NYSE: ANF): Stock jumped 14.7% after raising its annual sales forecast, despite anticipating a $50 million tariff impact.
- Box Inc. (NYSE: BOX): Gained over 17% after surpassing Q1 expectations and issuing optimistic guidance.
Losers Of Note:
- InflaRx N.V. (NASDAQ: IFRX): Plummeted 59.86% to $0.731 following disappointing clinical trial results.
- Cemtrex Inc. (NASDAQ: CETX): Dropped 48.75% to $0.866 amid broader market sell-off.
- Patriot National Bancorp Inc. (NASDAQ: PNBK): Fell 51.02% to $1.68 due to concerns over financial stability.
Active Traders Of Note:
- GameStop Corp. (NYSE: GME): Experienced high trading volume, closing at $31.21, down 10.86% after announcing a $500 million Bitcoin investment.
- Apple Inc. (NASDAQ: AAPL): Remained among the most actively traded stocks, closing at $200.47, up 0.13%.
- Okta Inc. (NASDAQ: OKTA): Saw elevated trading activity, closing at $90.12, down 16.2% despite beating earnings forecasts, due to cautious long-term revenue guidance.
Note: The stock performance summaries are based on general trends observed over the past ten trading days and are not indicative of future results.
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