Category: EOD Summary
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Stocks Slip to Start the Third Quarter as Fed Chair Warsh Offers No New Clues
U.S. stocks closed lower on Wednesday, giving back an early rally as investors weighed soft private-sector hiring data and a lack of fresh guidance from Federal Reserve Chair Kevin Warsh on the path of interest rates. The pullback came a day after major indexes wrapped up their strongest quarter since 2020, and traders spent the…
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Stocks Rally to Close Out Strong Quarter as Iran Ceasefire Lifts Sentiment
Wall Street closed out the second quarter on a high note Monday, with all three major indexes finishing firmly in positive territory as a combination of renewed confidence in the AI trade and welcome geopolitical relief gave investors reason to buy. The Dow Jones Industrial Average climbed to a fresh all-time high, capping what many…
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Wall Street Rebounds as Iran Ceasefire Hopes and Tech Rally Lift Stocks to Record Highs
US stocks surged Monday as investors breathed a collective sigh of relief following reports that peace talks between the United States and Iran were gaining traction after a weekend of military strikes. The combination of easing geopolitical tensions, a historic reshuffle of the Dow Jones Industrial Average, and a blockbuster corporate announcement from Comcast sent…
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Tech Sell-Off Extends into Friday as OpenAI IPO Delay Rattles AI Trade
U.S. stocks closed mostly lower on Friday, June 26, as a report that OpenAI may push its IPO to 2027 added fresh fuel to an already smoldering tech selloff. The news raised uncomfortable questions about the durability of AI spending — the theme that has driven much of the market’s gains over the past two…
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Stocks Close Mixed as Micron Surge Fails to Offset Big Tech Slide
Wall Street delivered a split verdict on Thursday as a blowout earnings report from Micron Technology lifted the Dow Jones to a fresh all-time intraday high, while price hike announcements from Apple and Microsoft dragged the Nasdaq lower for the session. Markets were also digesting the latest reading on the Federal Reserve’s preferred inflation gauge,…
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Tech Hangover Lingers as Micron Earnings Offer a Lifeline
Wall Street finished Wednesday on a split note, with investors still nursing wounds from a two-day chip-driven selloff while cautiously awaiting Micron Technology’s closely watched earnings report after the bell. The Dow Jones Industrial Average and S&P 500 managed slim gains, but the Nasdaq Composite slipped further as technology shares failed to fully recover from…
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Tech Selloff Drags Nasdaq and S&P 500 Lower as Rate Hike Fears Resurface
Wall Street closed sharply lower on Tuesday as a global technology selloff accelerated, sending the Nasdaq and S&P 500 to their steepest single-day drops in weeks. The catalyst was a combination of an unexpected note from Bank of America economists forecasting three Federal Reserve rate hikes before year-end and a steep overnight slide in Asian…
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Mixed Close as Nasdaq-100 Shakeup Weighs on Tech; Dow Edges Higher on Iran Optimism
Monday’s session ended on a split note for Wall Street, with the Dow Jones Industrial Average edging into positive territory while the S&P 500 and Nasdaq slipped under the weight of a high-profile index rebalancing and renewed pressure on mega-cap tech. The primary story of the day was the Nasdaq-100’s quarterly reshuffle, which forced massive…
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U.S. Stocks Rally on Iran Deal and Intel-Apple Chip Announcement
Wall Street closed sharply higher Thursday as investors shrugged off the prior session’s Federal Reserve-driven selloff, pivoting instead to two big pieces of geopolitical and corporate news: the signing of a U.S.-Iran agreement to reopen the Strait of Hormuz and a surprise announcement that Intel and Apple plan to build chips together on American soil.…
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Hawkish Fed Surprise Sends Stocks Sharply Lower
Wall Street ended Wednesday deep in the red after Federal Reserve Chair Kevin Warsh delivered a hawkish shock in his debut as chair of the FOMC, erasing an early-session gain driven by a stronger-than-expected retail sales report. All three major indexes finished well off their highs, with growth and technology stocks bearing the brunt of…