Stock Market Today: S&P 500, Nasdaq Hit New Highs Ahead of Juneteenth
The main indexes notched modest gains ahead of Wednesday's stock market holiday.


Investors had plenty of headlines to sift through Tuesday ahead of a mid-week break. As a reminder, Wednesday is a stock market holiday with the equities and bond markets closed in observance of Juneteenth.
In economic news, data from the Census Bureau showed retail sales rose 0.1% month-to-month in May, an improvement over April's revised 0.2% decline but below economists' forecast for a 0.2% increase.
Aron Bohlig, managing partner at ComCap, a boutique investment bank that works with several consumer-facing businesses, says his firm has witnessed the negative impact that higher interest rates and credit card rates have had on discretionary spending for most of the past year.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
"We are still seeing this broad-based weakness in discretionary spending at individual brands, retailers and marketplaces on a day-to-day basis," Bohlig adds. "Our outlook is that retail spending will remain depressed until rates fall, which suggests that discretionary spending categories will continue to be weak at least into early 2025."
Nvidia becomes the most valuable company in the world
In single-stock news, Nvidia (NVDA) continued its red-hot run higher, with the chipmaker adding 3.5%, or $115 billion in market value. NVDA's market cap now stands at $3.33 trillion, making it the most valuable company in the world.
Nvidia edged past Microsoft (MSFT, -0.5%) and Apple (AAPL, -1.1%), which both declined Tuesday, bringing their respective market caps to $3.31 trillion and $3.28 trillion.
Occidental Petroleum climbs after Buffett boosts his stake
Elsewhere, Occidental Petroleum (OXY) gained 1.8% after regulatory filings revealed Warren Buffett's Berkshire Hathaway (BRK.B, +0.2%) has been scooping up shares of the oil stock in recent weeks. Indeed, Buffett's holding company has bought 7.3 million shares of OXY since June 5.
Buffett & Co. began accumulating shares of the energy stock in the first quarter of 2022. At the end of Q1 2024, the holding company owned more than 248 million Occidental shares, accounting for 4.9% of the Berkshire Hathaway equity portfolio. Considering OXY is down nearly 6% since the start of the second quarter, Buffett is likely buying the dip on one of his favorite oil stocks.
Lennar tumbles on soft deliveries outlook
In earnings news, Lennar (LEN) slumped 5.0% as the homebuilder's soft fiscal third-quarter deliveries outlook offset a fiscal second-quarter beat.
Most of Wall Street is bullish toward LEN, but Wedbush analyst Jay McCanless has an Underperform (Sell) rating on the consumer discretionary stock. In addition to elevated mortgage rates, "the competitive threats to Lennar and the industry from higher inventories of new and existing homes for sale versus last year may be another headwind to new home demand," the analyst wrote in a recent note to clients.
As for the main indexes, the Nasdaq Composite (+0.03% at 17,862) and the S&P 500 (+0.3% at 5,487) managed to notch new record closing highs, while the Dow Jones Industrial Average ticked 0.2% higher to 38,834.
Related content
- Apple Shuts Down Buy Now, Pay Later Service in the U.S.
- Adobe Sued By FTC Over Hidden Fees, Cancellation Issues
- Are Banks Open on Juneteenth in 2024?
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
These Stocks Dipped in 2025. Do They Have Value?
If you are looking to add new long-term positions to your portfolio, as you should, this is the time to examine stocks that the market shuns.
-
Striking Gold (or Gas): A Financial Pro Unpacks the Nuances of Energy Investing
Investing in the energy industry, particularly oil and gas, involves understanding the facts about how projects generate returns through cash flow and long-term asset building, while also being aware of the risks.
-
These Stocks Dipped in 2025. Do They Have Value?
If you are looking to add new long-term positions to your portfolio, as you should, this is the time to examine stocks that the market shuns.
-
Striking Gold (or Gas): A Financial Pro Unpacks the Nuances of Energy Investing
Investing in the energy industry, particularly oil and gas, involves understanding the facts about how projects generate returns through cash flow and long-term asset building, while also being aware of the risks.
-
Escaping the New Golden Handcuffs: A Financial Expert Has a Plan for Today's Executives
Feeling stuck in your job? It could be your complicated compensation package, but it also could be where you live, your family or even how you view yourself.
-
Stock Market Winners and Losers of the 'Big, Beautiful' Bill
Defense, manufacturing and tech should prosper, while health care and green energy stocks face hurdles.
-
I'm a Financial Planner: Here's How to Invest Like the Wealthy, Even if You Don't Have Millions
Private market investments, once exclusive to the ultra-wealthy and institutions, have become more accessible to individual investors, thanks to regulatory changes and new investment structures.
-
Four Ways a Massive Emergency Fund Can Hurt You More Than It Helps
Saving too much could mean you're missing opportunities to put your money to work. Redirect some of that money toward paying off debt, building retirement funds, fulfilling a dream or investing in higher-growth options.
-
With Buffett Retiring, Should You Invest in a Berkshire Copycat?
Warren Buffett will step down at the end of this year. Should you explore one of a handful of Berkshire Hathaway clones or copycat funds?
-
I'm a Financial Planner: How to Dodge a Retirement Danger You May Not Have Heard About
Timing is everything, and sequence of returns risk can mean the difference between a retirement nest egg that's overflowing … or empty.