Market Recap (13th June, 2024)

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    Christian Harris

      The US market notched a fourth straight win on Thursday. The S&P 500 and Nasdaq rose marginally (0.2% and 0.3% respectively) to fresh records, while the Dow dipped 65 points.

      Investors weighed softer-than-expected inflation data (PPI) against the Fed’s cautious stance on rate cuts. Renewed hopes for multiple cuts buoyed sentiment.

      Tech stocks led the surge. Broadcom soared 12.8% on AI chip revenue forecast hike and a stock split announcement.

      Nvidia added 3.5%, extending its recent gains.

      Positive news lifted Tesla 2.7% after shareholder approval of Musk’s pay package and Texas relocation plans.

      Virgin Galactic plunged 14.2% following a reverse stock split announcement.

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      • #180915 Reply

          Uber was up 5.12% to $73.15 as well, tech leading the way.

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