Equities closed lower Thursday after briefing topping the 5,500 milestone for the first time ever as Nvidia cooled its recent rally, dragging the broader tech sector lower and flurry of economic data pointing to signs of a weaker economy.
The US markets were closed overnight for the “Juneteenth” or Freedom Day holiday, commemorating the end of slavery in 1865.
The US markets closed at another record high on Tuesday as Nvidia rallied to usurp Microsoft as the most valuable company, pushing the broader tech sector higher and overshadowing economic data pointing to a more wary U.S. consumer.
Yet another record high led by the mega-cap tech stocks overnight as investors shrugged off a climb in Treasury yields amid ongoing Fed speak around delays to rate cuts and flow of key economic data due later this week.
The Nasdaq closed at a record high Friday, led by tech and expectations for Federal Reserve rate cuts later this year, though a dent in consumer sentiment kept gains in check
US stocks clinched another record close, as surge in Broadcom lifted chip stocks and bets on rate cuts this year were boosted by further signs of slowing inflation despite the broader market falling 1% and Europe falling 2%
The seemingly endless AI rally continued overnight despite the Fed being more hawkish than expected, whittling down the possibility of rates cuts to just one cut this year, and less in 2025 as the central bank remains cautious on inflation.
In the Wall St equivalent to a participation award, S&P 500 and Nasdaq climbed to a record close for the second-straight day, on a surge in Apple to all-time highs, on AI…. 18 months late and not even their own product
The S&P 500 and Nasdaq reached new record highs, driven by a strong performance in the technology sector ahead of the Federal Reserve’s interest rate decision and upcoming inflation data.
Equities took a breather after notching a record high a day earlier, as investors weighed up the ECB’s rate cut and further signs of cooling in the labor market, just a day ahead of the crucial monthly U.S. jobs report.
A Bank of Canada rate cut and signs of further cooling in the labor market fueled investors “one-eyed” optimism, lifting hopes that the Federal Reserve will cut interest rates later this year
The best way to describe the markets positive spin on weakening economic conditions, is “oxymoron”, but history has often taught us that only the latter half of that word ends up describing those who buy it
