Today At A Glance
U.S. equities closed at fresh record highs on June 27, fueled by renewed optimism around AI, trade relief, and growing odds of Fed rate cuts. A surprise drop in consumer spending and durable goods reinforced the soft economic narrative, further elevating risk-on sentiment. The S&P 500 and Nasdaq both hit all-time closing highs following strong earnings from Micron and Nvidia alongside dovish Fed remarks. The market also got a boost from China‑U.S. rare-earth trade progress and hopes of trade agreements by Labor Day. Weekly gains were broad-based across sectors, with industrials leading while energy lagged.
Today’s Index Performance
- S&P 500: Opened at $612.94, closed at $614.82, up approximately 0.30%, marking a new all-time closing high.
- NYSE Composite: Advanced around 0.9%, contributing to positive breadth alongside the Dow’s 0.93% gain.
- NASDAQ: Opened at $547.09, closed at $548.11, up roughly 0.35%, also closing at a record high .
Gainers Of Note
- Micron (NASDAQ: MU): Rallied on upbeat earnings, reviving AI and semiconductor optimism.
- Nvidia (NASDAQ: NVDA): Maintained its climb toward a $4 trillion valuation, buoyed by AI momentum.
- Nike (NYSE: NKE): Rose ~2.8% after better‑than‑expected Q1 revenue guidance.
Losers Of Note
- Chevron (NYSE: CVX): Underperformed as energy lagged amid broader sector weakness.
- Abbott (NYSE: ABT): Dropped ~2.8% in a defensive pullback.
- Iron Mountain (NYSE: IRM): Declined ~1.7%, continuing its underperformance in defensive sectors.
Active Traders Of Note
- Micron (NASDAQ: MU): high volume surrounding its earnings release.
- Nvidia (NASDAQ: NVDA) strong volume as it pushed to new highs.
- Caterpillar (NYSE: CAT): heavy trading, contributing to industrials outperforming with ~2.7% gain.
Note: The stock performance summaries are based on general trends observed over the past ten trading days and are not indicative of future results.
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