Stock Market Weekly update -Jun 14
We pulled back for a 2nd week in the S&P500, before seeing a small recovery on Thu & Fri. Only the Small-caps closed at all time highs tho. Semis recovered from a big drop the prior week. NVDA however, dropped for a 4th week since reporting great earnings. Software had another big weekly drop , as ADBE dumped further, down to multi-year lows. The SpaceX IPO opened at $150, and closed at around $160, the largest IPO in history. AAPL dropped after their WWDC/Siri presentation. Inflation came in higher again (CPI, PPI), while Oil prices dropped. Gold dropped for yet another week. This week we have the June Quarterly Options expiration, and a Fed meeting. Markets are in a weekly uptrend, but in somewhat of a ‘daily’ downtrend. Maybe we’ll get a better sense of direction this week as we get our first Fed meeting with the new chairman. Markets will be closed on Friday. Stocks end higher as SpaceX soars in debut, U.S.-Iran deal nears US consumer sentimen...