Here's everything you need to know about finance markets for today. The Dow was down 71 points.
The Nasdaq gained 18 points. Chris Zaccarelli, chief investment officer, Independent Advisor Alliance says the market is still in a tug-of war between interest rate and inflation outlook yahoo bitcoin.
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I think, as people trying to decide is inflation transitory or is it something that's a little bit more persistent, that's really what's driving the push and pull. And you're seeing interest rates move slightly higher and lower and therefore cyclicals versus growth maybe slightly higher and lower. And I think that explains a lot of the market action today.
Other market movers included vaccine makers. The U. Shares of Moderna fell more than 4 percent.
BioNTech lost nearly 3 percent. Pfizer was down more than 1 percent.
On the economic front, sales of new homes slumped to a one-year low in May. Sales have fallen two straight months, hampered by high price tags and costly lumber prices. The median sales price for a new home yahoo bitcoin And a measure of activity in the factory sector jumped to a record high this month, according to a preliminary private survey.
Manufacturers are still struggling with supply shortages, however. The strength coming from factory floors is bolstering expectations that second-quarter economic growth could be in the double digits.