Market Recap – July 5th💰

Market Recap – July 5th

All three major indexes moved horizontally yesterday with minor change. The S&P closed a little over a tenth of a percent higher, while the DOW closed nearly half a percent lower. Only the NASDAQ saw a gain and decent price movement, closing up one and three-quarter percent.

Looking at specific investments, Ford shares dropped 1% and hit a new 52-week low after vehicle sales for the second quarter missed automotive analysts’ expectations. While Analysts expected the Detroit automaker’s sales to rise between 3.3% and 5.1%, it only rose around 1%. Stellantis, the automaker, saw similar results as Ford. Indeed, shares fell around 5.6% after a Union workers report said the company’s Italy-based production could take a hit of about 220,000 vehicles this year due to the global chip shortage.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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