Reported about 1 year ago
On Friday, the S&P 500 and Nasdaq slightly declined as Nvidia shares fell for the second day, impacting the tech sector. Despite this, megacaps like Microsoft, Alphabet, Amazon.com, and Apple saw gains. Communication services and technology sectors experienced fluctuations, while the overall Wall Street indexes were poised for weekly gains. Business activity in the U.S. reached a 26-month high in June, with flash services PMI exceeding expectations. The market remained cautious amidst triple witching and ongoing predictions of rate cuts by LSEG's FedWatch data. Nvidia, Qualcomm, Broadcom, and Micron Technology faced declines, as concerns were raised over the sustainability of heavily valued AI-related stocks' surge. Meanwhile, key events included Boeing nearing a deal for Spirit AeroSystems and Sarepta Therapeutics' gene therapy expansion approval.
Source: YAHOO