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Market Volatility: Stocks Flatten as Powell's Remarks Weigh on Gains

The stock market experienced a turbulent session on Wednesday, ultimately closing near flat after Federal Reserve Chair Jerome Powell's comments on monetary policy and inflation concerns. The S&P 500 ended nearly unchanged , giving back earlier gains as investors digested Powell’s remarks on the Fed’s stance regarding interest rates and economic restraint. Powell reiterated that the central bank remains cautious about inflation, particularly in light of tariff-driven price increases expected over the summer. While the Fed signaled that borrowing costs are likely to decline this year, the pace of future rate cuts appears to be slowing.  Following Powell’s speech, U.S. Treasury yields reversed their earlier declines , influencing market sentiment. The Dow Jones Industrial Average fell 43.83 points (0.10%) , while the Nasdaq Composite managed a slight gain of 23.66 points (0.12%).  Investors also kept a close eye on geopolitical developments, particularly tensions in the Midd...
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S&P 500 Surges to Record High, Dow Soars Over 475 Points

 

After several days of red closings, US stocks rebounded today, with the S&P 500 reaching a fresh record and the Dow Jones Industrial Average surging more than 475 points. Here are the key highlights:

  1. S&P 500 Hits New High: The S&P 500 (symbol: ^GSPC) closed at an all-time high of 5,248.50, marking a remarkable 0.8% increase. This benchmark index has set a new record closing high over 20 times this year, signaling its resilience and potential for further gains.

  2. Dow Jones Rises: The blue-chip Dow Jones Industrial Average (symbol: ^DJI) rose approximately 1.2%, reaching 37,863.80. Investors welcomed this surge after a three-day losing streak for the S&P 500.

  3. Nasdaq Composite Gains: The tech-heavy Nasdaq Composite (symbol: ^IXIC) also participated in the rally, gaining 0.5%.

  4. Monthly Momentum: The S&P 500 is on track for its fifth-straight monthly gain, suggesting a positive outlook for the market. Investors eagerly await the release of the Personal Consumption Expenditures (PCE) price index, which includes the Federal Reserve’s preferred inflation measure.

  5. Meme Stocks Return: Reddit-fueled stocks are back in focus. Reddit (symbol: RDDT) experienced a surge, while Trump Media and Technology (symbol: DJT), founded by presumptive Republican presidential nominee Donald Trump, gained momentum. However, GameStop (symbol: GME), an OG meme stock, faced a 15% plunge due to an “unsustainable” sales decline and job cuts.

  6. Sector Performance: Utilities (symbol: XLU) and Real Estate (symbol: XLRE) led the trade, rising more than 2% each. The Russell 2000 Index (symbol: ^RUT) also outperformed, rising over 1.7%.

  7. Notable Tickers: Carnival Corporation (symbol: CCL) reported booking volumes, while Merck (symbol: MRK) gained after FDA approval for a drug treating a rare lung condition. Robinhood (symbol: HOOD) announced the launch of its first credit card.

As the stock market continues its dynamic journey, investors remain vigilant, balancing optimism with caution. The world watches as indices break records, hoping for stability and prosperity in these uncertain times.


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