STOCK MARKET

Dow Jones ended at $39,134.76 (+0.77%)

S&P 500 ended at $5,473.17 (-0.25%)

Nasdaq Composite ended at $17,721.59 (-0.79%)

The stock market experienced mixed performances as the S&P 500 closed slightly lower after briefly surpassing the 5,500 level for the first time, while the Nasdaq Composite also fell. In contrast, the Dow Jones Industrial Average continued its upward trend, with today’s performance being its best day since May. The market’s volatility was driven by Nvidia’s significant 3.5% pullback after earlier gains, alongside seasonally low trading volumes and signs of an overextended market, as noted by Nathan Kotler from GenTrust. Thus, despite excitement around AI driving tech stocks higher, worries persisted about the lack of market breadth. Moreover, fresh economic data also indicated a softening economy, with higher-than-expected jobless claims and weak housing starts adding to investor concerns. Meanwhile, individual stock performances varied, with Darden Restaurants edging up 1.5% after strong earnings and Gilead Sciences surging 8.5% following a successful trial of its HIV prevention shot. Furthermore, it is worth noting that the Juneteenth holiday further disrupted trading activity, contributing to the mixed results.

CRYPTO MARKET

Bitcoin rose by 0.28% for the day, with a value of $65,031.87 as of 3:00 PM CST, as stated by Coin Metrics.