The Dow Industrials experienced a notable decline, falling over 500 points, which reflects broader market concerns. Apple is planning to raise prices due to increased memory chip costs, with its shares down 7% from earlier highs but still up 16% over the past three months.
Moderna's stock surged 11.6% as it prepares to present its mRNA flu shot to the FDA, marking a 24% increase in just three days. Jobless claims data is anticipated, with expectations set around 225,000 claims. Kroger is set to report quarterly results, with its shares down 16% over the past three months.
In the banking sector, major banks like Bank of America and JPMorgan reached new highs, with Bank of America up 9.5% in June. Conversely, oil prices have dropped significantly, with Brent crude falling below its 200-day moving average for the first time since February, contributing to a 27% decline over the past month.
Major exchanges also faced declines amid speculation about competition from prediction markets, with Nasdaq down 6.7% and CME Group down 3.5%. Comcast and Salesforce are struggling, with shares at lows not seen in years, indicating broader challenges in the market