#StockMarket #InflationData #InvestmentTrends
As the market approaches the end of June and the halfway point of the year near record highs, stock futures showed a mixed trend on Monday morning. My attention was drawn to the Nasdaq Composite and S&P 500 futures, which remained relatively stable, while Dow Jones Industrial Average futures slightly declined by 0.13%.
Last week, the S&P 500 hit an intraday high of $5,505.53 and closed positively for the week, marking its eighth gain in nine weeks. Despite this, concerns have arisen, notably with Nvidia's consecutive declines, causing a 4% drop last week. Analysts highlighted bearish signals in Nvidia's recent trading patterns.
I am cautious about Nvidia's rapid price increase, emphasizing the significance of the company in the AI sector. The enthusiasm around artificial intelligence has significantly boosted the market this year, despite uncertainties regarding rate cuts and economic slowdown.
Looking ahead, investors are awaiting the release of May's personal consumption expenditure data, a key inflation indicator for the Federal Reserve, scheduled for Friday. Additionally, this week will see earnings reports from major companies like $FDX (FedEx), $MU (Micron), $WBA (Walgreens Boots Alliance), and $NKE (Nike).
In European markets, trading opened with a mixed tone on Monday. The Stoxx 600 index remained flat, with various sectors and major indices moving in opposite directions. The FTSE index in the U.K. dropped slightly, while Germany's DAX and France's CAC 40 showed modest gains, and Italy's FTSE MIB climbed higher.
The S&P 500 has now gone 377 days without a significant sell-off, the longest stretch since the financial crisis, as reported by FactSet data compiled by CNBC. During this period, the index has not recorded a gain of at least 2.15%.
Original Article: https://www.cnbc.com/2024/06/23/stock-market-today-live-updates.html
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