Nasdaq Gaps Lower on Tariff, Stagflation Fears

• Software stock among the best stocks to own this month.
• Cloud stock looks ready for short-term bounce.
• Plus, YUM's slide; pharma stock bucks headwinds; and 25 stocks to avoid right now.

5 Things to Know Today

1. President Trump warned he would issue an executive order to punish financial institutions that he said discriminate against conservatives. (MarketWatch)
2. Americans now collectively owe $1.21 trillion on their credit cards, in line with last year's record highs. (CNBC)
3. Lackluster quarterly results ding Yum! Brands stock.
4. Beat-and-raise pushes pharmaceutical stock higher.
5. Why traders should avoid these 25 stocks in August.

Oil Extends Pullback as Gold Holds Firm

Oil prices fell on Tuesday, as investors weighed the Organization of the Petroleum Exporting Countries and its allies' (OPEC+) decision to hike crude outputs and U.S. threats against India over its Russian oil purchases. September-dated West Texas Intermediate (WTI) fell $1.13, or 1.7%, to close at $65.16 per barrel. 

Gold prices edged slightly higher, even as the U.S. dollar gained strength. Wall Street is also assessing support for a potential interest rate cut, with President Trump expected to announce new Federal Reserve appointments. August-dated gold futures added 0.1% to settle at $3,430 per ounce.