Currency traders walk by the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Monday, July 1, 2024.
“Across all industries and firm sizes, business conditions held steady at 12, which is on past form consistent with GDP growth of around 0%,” Marcel Thieliant of Capital Economics said in assessing the tankan. “A renewed slowdown in GDP growth this quarter would be consistent with the slump in industrial production firms were predicting for June.”
On Friday, a flurry of selling late in the day left the S&P 500 0.4% lower at 5,460.48 and in the red for the week. The Nasdaq composite fell 0.7% to 17,732.60, while the Dow Jones Industrial Average ended 0.1% lower to 39,118.86.The S&P 500 gained 3.5% in June and is up about 14.5% so far this year.A pullback in big technology stocks, which have been big winners in the market's record-breaking runup, weighed on the market on Friday. Apple fell 1.6%, Microsoft lost 1.
Source: News Formal (newsformal.com)
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