US Stock Market Recap (25th June, 2024)
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The stock market rebounded on Tuesday, June 25th, after a three-day slump. The S&P 500 and Nasdaq rose 0.4% and 1.2%, respectively, while the Dow Jones Industrial Average fell by 296 points.
Tech stocks spearheaded the recovery, reversing Monday’s sell-off that saw investors shift away from chipmakers and AI companies. Nvidia’s share price surged 6.7%, recouping losses from a three-day decline. The communication services sector also gained, while real estate and materials lagged behind.
Positive movement continued with major tech companies. Despite an EU antitrust lawsuit concerning Teams, Microsoft’s stock climbed 0.7%. Apple, Amazon, Meta, and Alphabet all saw modest increases, ranging from 0.4% to 2.7%.
Economic data, however, pointed towards a slowdown in house price growth for April.