Nasdaq, S&P 500 post all-time closing highs for
4th day as tech boosts
Thu June 13, 2024 4:58 PM
All three indexes were on a
decline all morning, the Dow especially down over 300 points. Then, at 12:30,
all three started climbing again, which was probably the time the PPI data was
released which showed a substantial decline from April which, combined with an
increase in unemployment claims, increased the odds of rate cuts, which shot
tech back into the black again. The Dow also recovered dramatically but still
ended the day in the red given concerns that the economy may be slowing too
quickly. The market wants inflation down but not too much and not too
quickly. Tesla stockholders
enthusiastically approved a $56B pay package for Elon Musk but it still has to
get by the courts. Volume was 10.14 billion vs a 12.5 billion average.
DJ: 38,712.21 -35.21 NAS: 17,608.44 +264.89 S&P: 5,421.03 +45.71 6/12
DJ: 38,647.10 -65.11 NAS: 17,667.56
+59.12 S&P: 5,433.74
+12.71 6/13
Thu 6-13-24 4:58 pm Nasdaq, S&P 500 post all-time closing highs for 4th day as tech boosts | Reuters
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