Dow edges up after weak retail sales
By Echo
Wang
Tue June 18, 2024 6:34 PM
Across the board, it was constant
seesaw action between black and red all day long but, spurred by continuing new
highs from Nvidia and AI, the Nasdaq itself, though barely breaking even, still
managed a new record as did the S&P. Retail sales coming in lower than
expected put a damper on the Dow but still managed a modest gain. The weak
retail sales number has sparked more optimism in two rate cuts instead of one,
even if the Fed still insists on very likely just one and today the Richmond Fed
prez said he needed more months of encouraging data before supporting a
cut. Overall, the market was relatively
subdued ahead of Wednesday’s Juneteenth holiday, during which the markets will
be closed. Volume remains below average at 10.96 billion.
DJ: 38,778.10 +188.94 NAS: 17,857.02 +168.14 S&P: 5,473.23 +41.63 6/17
DJ: 38,834.86 +56.76 NAS: 17,862.23
+5.21 S&P: 5,487.03 +13.80 6/18
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