Closing Bell: Nike Rally Boosts Consumer Names; Mixed June on Wall Street




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Summary: It was a mixed month for Wall Street with the Dow Jones Industrial Average and S&P 500 closing with gains, but the Nasdaq holding onto losses. A sharp selloff in tech in June pulled the Nasdaq lower to close out with its first negative month since October. Crude oil prices rallied this afternoon after weekly rig count data from Baker Hughes showed the first decline in activity in 24 weeks. The number of active rigs has only dropped two times this year. A rally in Nike Inc. spilled over into the consumer space. The athletic footwear company led the Dow after a positive earnings report and confirmation of a deal to sell its products through Amazon.com Inc. . Chipmaker Micron Technology declined despite posting a better-than-expected quarter. Micron topped earnings and sales expectations. The company also forecast above-consensus results for its fourth quarter.