Thursday, June 3: SUMMARY:
All three major market indexes struggled to extend Wednesday’s strong showing, but after a turbulent day of trading they managed to eke out small gains.
The Dow Jones Industrial Average (DJIA – 10,255.28) traded higher in the final minutes of trading to end on a gain of 5.7 points, or 0.06%. The Dow notched a second consecutive daily close atop its 10-day moving average for the first time since late April.
The S&P 500 Index (SPX – 1,102.83) closed with a gain of 4.5 points, or 0.4%, closing above the 1,100 level.
Finally, the Nasdaq Composite (COMP – 2,303.03) managed its own round-number victory — the tech-heavy COMP tacked on nearly 22 points, or 1%, to finish north of 2,300 for the first time since May 18.
Crude futures gained ground today, as supply concerns gripped the market, Crude oil for July delivery added $1.75, or 2.4%, to settle at $74.61 per barrel.
Gold lost some of its allure as an alternative investment as selling intensified when the precious metal tumbled through support at $1,210 on an intraday basis. However, by the close gold for August delivery was down $12.60, or 1%, to finish squarely at $1,210 per ounce.
