US Stock Market Recap (26th June, 2024)
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US markets closed with subtle gains on Wednesday after a cautious trading session. Investors appeared to be on the sidelines, waiting for a key inflation report (PCE) due later this week.
Major indexes like the S&P 500 and Nasdaq 100 edged slightly higher, staying close to their record peaks reached last week. The Dow Jones also managed a small increase.
While energy and financial sectors lagged behind, consumer discretionary stocks outperformed. Amazon and Tesla led the gainers, surging by nearly 4% each. Apple also saw a solid 2% rise.
Nvidia’s recent volatility continued as investors debated the sustainability of its AI-driven growth. The stock initially dipped but managed to recover and close slightly positive.
FedEx had its best day in decades, skyrocketing over 15% after exceeding quarterly earnings expectations. Rivian Automotive also soared over 23% on news of a potential multi-billion dollar investment from Volkswagen.