In Dow Jones news today, the markets were flat as President Donald Trump proclaimed on Twitter Inc. (NYSE: TWTR) he was vindicated after former FBI Director James Comey testified before the Senate.
Here are the numbers from Friday for the Dow, S&P 500, and Nasdaq:
Banking stocks led the Dow Jones higher as investors turned their attention to the Federal Reserve's upcoming meeting on monetary policy. According to CME Group's FedWatch Tool, there's a 99.6% chance the Fed raises rates on June 14.
It was a brutal day in the technology sector as traders speculated on whether the industry is in another bubble. Shares of Facebook Inc. (Nasdaq: FB) dropped over 3%, while shares of Apple Inc. (Nasdaq: AAPL) fell over 4%. Shares of Alphabet Inc. (Nasdaq: GOOGL), which recently climbed to more than $1,000 per share, fell by more than 3%.
Crude oil prices pushed higher despite news that the number of production rigs in the United States increased for the 21st consecutive week. In the face of rising U.S. production and stagnant prices, OPEC producers are openly questioning whether their deal to cap excessive production will offer enough support to the market. The WTI crude oil price today added 0.5%, and Brent crude gained 0.6%.
Traders are still wondering how they should address President Donald Trump's decision to leave the Paris climate accord. Even though the presidential administration has broken from the 195 signatories involved in the deal, there is still a very profitable story emerging. Clean energy stocks are still the best energy stocks to own right now. We can get you started with several of the best stocks to own in the space.
Despite the geopolitical uncertainty that emerged from yesterday's election in the United Kingdom, gold prices and silver prices both fell Friday. However, the temporary price drop represents a buying opportunity for savvy investors. Money Morning Resource Specialist Peter Krauth has just released his latest gold forecast for 2017. He sees gold prices rallying in the months ahead. By how much? Find out here.
Four Stocks to Watch Friday: AMZN, BABA, NVDA, DFT
Shares of Amazon.com Inc. (Nasdaq: AMZN) stock fell more than 3% today. The company is getting ready to launch an online pharmacy that will cater to its more than 80 million Prime subscribers.
Want to own the "Amazon of China?" Shares of Alibaba Group Holding Ltd. (NYSE: BABA) fell more than 1% thanks to today's tech sell-off. But investors should see this downturn as a buying opportunity.
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Chipmaker Nvidia Corp. (Nasdaq: NVDA) fell more than 6% despite receiving a round of positive coverage from Wall Street brokerages. Shares had climbed as much as 7.5% in early trading, but reversed after Citron Research tweeted that the GPU maker had become a "casino stock." The firm said in a white paper that it expects NVDA stock to fall to $130.00 in the near future.
Shares of DuPont Fabros Technology Inc. (NYSE: DFT) popped more than 10% after the company announced it will sell itself to a rival. According to reports, Digital Realty Trust Inc. (NYSE: DLR) will purchase the data center operator for roughly $7.6 billion.
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.