In a rollercoaster Monday on Wall Street, US stocks closed with mixed signals. The Dow Jones Industrial Average tumbled by 64.36 points (0.14%) to 44,837.56, while the S&P 500 inched up 1.13 points (0.02%) and the Nasdaq Composite climbed 70.27 points (0.33%).
Major sectors had a varied performance. Eight out of 11 S&P 500 sectors ended in the red, with real estate and materials losing 1.75% and 1.44% respectively. On the flip side, energy and technology sectors shined, gaining 1.15% and 0.77%—proving that not all was gloomy. 🚀
The mixed market mood came on the heels of a US-EU trade deal announced on Sunday. This deal trims tariffs on most EU imports to 15%, down from the 30% that was once on the table. This easing step appears to have balanced caution with optimism in the trading arena.
The tech space was buzzing too! Tesla surged by 3% after revealing a massive $16.5 billion deal with Samsung to secure advanced AI chips, sparking excitement across the board. Other tech giants like Nvidia, Broadcom, Apple, Amazon, and Meta also saw upward moves, even as some heavyweights like Microsoft and Alphabet inched lower.
Looking ahead, investors are gearing up for a busy week filled with economic data and earnings reports from over 150 S&P 500 companies. Big tech names, including Meta and Microsoft, are scheduled to report on Wednesday, followed by Amazon and Apple on Thursday. All eyes will also be on the Federal Reserve, which kicks off its two-day policy meeting on Tuesday. Although no change in interest rates is expected, traders are keenly watching for any hints about a possible rate cut in September.
Stay tuned as the market continues to evolve in this fast-paced world of stocks and tech—every move tells a story! 🌟
Reference(s):
cgtn.com
