Reported 8 months ago
On June 18, 2024, US consumer spending data slowing down increased the probability of a rate cut by the Federal Reserve, boosting all four major US stock indexes on Tuesday (18th) into the green, with the S&P hitting a 31st record high this year, closing up 0.25%; the Nasdaq soaring 1.35%. NVIDIA and Micron rose over 3%, leading the semiconductor index, with NVIDIA surpassing Microsoft and Apple to become the market value king with a rise of 3.51% to $135.58, totaling $3.34 trillion. Micron surged 3.8% to $153.45, and Qualcomm rose 2.19% to $227.09. AMD and Intel fell, down 2.38% and 1.13% respectively. Semiconductor stocks were strong while the big tech five weakened with Meta down 1.41%, Alphabet down 1.21%, Apple down 1.1%, Amazon down 0.68%, and Microsoft down 0.45%. The four major US indexes on Tuesday (18th) performed as follows: Dow Jones Industrial Average closed at 38,834.86, up 56.76 points or 0.15%; S&P 500 closed at 5,487.03, up 13.8 points or 0.25%; Nasdaq closed at 17,862.23, up 5.21 points or 0.03%; and the Philadelphia Semiconductor Index closed at 5,765.12, up 77.03 points or 1.35%.
Source: YAHOO