The Dow is down 124 points at midday
| 6/07/2021 | | Have you seen our volatility scorecard? Sign up by clicking here! | Dow, S&P Erase Gains at Midday Despite Strong Start | By: Fernanda Horner | The Dow Jones Industrial Average (DJI) is down roughly 124 points at midday, erasing this morning's gains despite nearing a fresh intraday high earlier in the session. Similarly, the S&P 500 Index (SPX) has turned red, with weakness in the materials and financial sectors pushing it away from record levels, while the tech-heavy Nasdaq Composite (IXIC) remains flat. Traders are still monitoring the "meme stock" craze, and digesting news that the G-7 nations have agreed to ask massive companies to pay a minimum 15% tax on their earnings. Continue reading for more on today's market, including: - Reddit's latest target is a heavily shorted medical name.
- Visa stock popped thanks to fresh Piper Sandler praise.
- Plus, bulls eye BNGO after C-suite shakeup; Exfo to be taken private; and chipmaker dips on direct offering.
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