U.S. Stocks Close On Mixed Note; Nasdaq, S&P Hit Record Closing Highs
08 Julho 2024 - 5:48PM
IH Market News
U.S. stocks ended mixed on Monday, turning a bit sluggish after
a fairly good start. Among the major averages, the Nasdaq and the
S&P 500 moved on to record highs, while the Dow ended in
negative territory.
Optimism about the outlook for interest rates aided stocks
earlier in the session. However, the mood turned a bit cautious as
the day progressed with investors looking ahead to the data on
consumer and producer prices, and Federal Reserve Chair Jerome
Powell’s congressional testimony this week.
The Dow edged down 31.08 points or 0.08 percent to 39,344.79.
The S&P 500 (SPI:SP500) ended higher by 5.66 points or 0.1
percent to 5,572.85, while the Nasdaq advanced 50.98 points or 0.28
percent to 18,403.74.
On the economic front, a leading indicator for payroll
employment in the U.S. decreased in June, extending the declining
trend over the past several months, and a signaled a slowdown in
payroll hiring in the second half of the year, survey data from the
Conference Board showed.
The Conference Board Employment Trends Index fell to 110.27 in
June from a downwardly revised 111.04 in May.
Networking stocks found good support. Shares of semiconductor
and hardware companies also moved higher, contributing
significantly to the gains of the Nasdaq.
Nvidia (NASDAQ:NVDA) gained nearly 2 percent. Advanced Micro
Devices Inc. (NASDAQ:AMD) shares rallied 4 percent. Intel surged
more than 6 percent, and Dell Technologies climbed 5 percent.
Broadcom Inc., Home Depot, Quallcomm, Applied Materials, Texas
Instruments, GE Aerospace, Morgan Stanley, IBM, Booking Holdings
Inc., Citigroup, Vertex Pharmaceuticals, Lowe’s and Analog Devices
also closed notably higher.
Nike, Comcast Corporation, Abott Laboratories, McDonald’s
Corporation, Cisco Systems, Wells Fargo, PepsiCo, Coca-Cola, Visa
and Meta Platforms ended weak.
In overseas trading, stock markets across the Asia-Pacific
region moved mostly lower during trading on Monday. Japan’s Nikkei
225 Index fell by 0.3 percent, China’s Shanghai Composite Index
slid by 0.9 percent and Hong Kong’s Hang Seng Index tumbled by 1.6
percent.
Major European markets closed slightly down, as investors
reacted to the results of French parliamentary elections, and
awaited Fed Chair Jerome Powell’s testimony this week for clues on
U.S. central bank’s policy path.
The pan European Stoxx 600 edged down 0.03 percent. The U.K.’s
FTSE 100 ended down 0.13 percent, France’s CAC 40 closed lower by
0.63 percent, and Germany’s DAX sett;ed 0.02 percent down.
SOURCE: RTTNEWS
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