U.S. Stocks End Mixed After Cautious Session
24 Junho 2024 - 6:01PM
IH Market News
U.S. stocks ended mixed on Monday as investors stayed largely
cautious ahead of some crucial economic data, including a report on
personal income & spending due later in the week.
Among the major averages, the Dow closed higher, extending gains
to a fifth straight session. The index ended up by 260.88 points or
0.67 percent at 39,411.21. The Nasdaq ended at 17,496.82, losing
192.54 points or 1.09 percent. The S&P 500 settled at 5,447.87,
down 16.75 points or 0.31% from the previous close.
Several companies, including Nike (NYSE:NKE), Micron Technology
(NASDAQ:MU), Carnival and Wallgreens Boots Alliance, are scheduled
to announce their quarterly results during this week.
On Friday, the Commerce Department’s report on personal income
and spending in the month of May, which includes readings on
inflation said to be preferred by the Federal Reserve.
The report, which is expected to show a modest slowdown by the
annual rate of consumer price growth, could have a significant
impact on the outlook for interest rates.
Reports on new home sales, consumer confidence, durable goods
orders and pending home sales may also attract attention in the
coming days.
Investors are also looking ahead to the presidential debate
between Joe Biden and Donald Trump this week.
Nvidia Corporation (NASDAQ:NVDA) shares tumbled 6.7 percent,
sliding once again on profit taking. Dell Technologies (NYSE:DELL)
and QualComm, both ended lower by more than 5 percent.
Amazon, Broadcom, Oracle Corporation, Home Depot, Netflix,
Adobe, Salesforce.Inc. and Intel lost 1 to 3 percent.
Berkshire Hathway, JP Morgan Chase, Walmart, Exxon Mobil,
UnitedHealth Group, Merck, Bank of America, Chevorn, Coca-Cola,
Wells Fargo, Verizon, IBM, Pfizer, Morgan Stanley, Goldman Sachs
and Boeing gained 1 to 4 percent.
In overseas trading, Asian stocks retreated on Monday as
investors awaited U.S. inflation data and comments from Fed
officials for additional clues on the outlook for interest
rates.
European stocks closed on a firm note as bond yields dropped and
investors digested some corporate news, while looking ahead to
fresh economic data, the U.S. Presidential debate, and France’s
snap parliamentary polls.
In commodities, West Texas Intermediate Crude oil futures
settled higher by $0.90 or about 1.1 percent at $81.63 a barrel.
Gold futures for June ended up by $13.60 or about 0.6 percent at
$2,330.00 an ounce.
In currency trading, the dollar index dropped to 105.37 before
recovering slightly to 105.48, but still remained weak, trailing
previous close by 0.3 percent. Against the Euro, the dollar was
down at 1.0736, and against the Japanese currency, declined
marginally to 159.61 yen.
SOURCE: RTTNEWS
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