Monday, June 7, Market Recap

Good Evening,

Today, June 7…

The DJIA fell 0.40%

The S&P 500 was down 0.10%

The Nasdaq Composite added 0.23%

Energy led the market today.
General Market Review

Healthcare

Biogen gained 38.34% after the FDA approved the biotech company’s Alzheimer’s disease drug. It is the first medication cleared in the US that slows the decline of Alzheimer’s. Analysts increased its price target to $300.

Energy

As talks over the Iran nuclear deal are underway, it could lift sanctions. OPEC+ continues to curb supply through July as demand rises, which boosted oil prices. ExxonMobil and Chevron fell 0.65% and 0.60%, respectively.

Tech

At the Apple Worldwide Developers Conference, Apple revealed many software updates that include updates to Facetime, Watch software, and more. Apple stock fell flat.

Charts by TradingView