NEW YORK, June 21 ― The S&P 500 and Nasdaq closed lower yesterday, as market bellwether Nvidia retreated from earlier gains, while investors evaluated recent economic data and...
The Dow Jones Industrial Average rose 299.90 points, or 0.77 per cent, to 39,134.76, the S&P 500 lost 13.86 points, or 0.25 per cent, to 5,473.17 and the Nasdaq Composite lost 140.64 points, or 0.79 per cent, to 17,721.59.
The number of Americans filing new claims for unemployment benefits declined last week, but the latest data showed that the overall number of people on benefits rolls reached the highest level since January, indicating that the US job market continues to cool.Another set of data showed US single-family homebuilding fell in May amid continued high mortgage rates.
Energy and utilities were biggest gainers among the 11 S&P 500 sector indexes, up 1.86 per cent and 0.89 per cent respectively, while technology led the decline. Money markets currently see a 58 per cent chance of a 25-basis-point rate cut by the US central bank in September, according to LSEG's FedWatch data.
Trump Media & Technology Group tumbled 14.56 per cent on potential equity dilution after the US Securities and Exchange Commission declared effective the company's filing for a resale of certain shares and warrants, giving it about US$247 million in proceeds.
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