Market Recap – July 14th 💰

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Market Recap – July 14th

On Friday, stocks experienced gains as Treasury yields eased and investors considered the cumulative impact of previous Federal Reserve rate hikes. The Dow Jones Industrial Average surged by 387.40 points, or 1.17%, closing at 33,390.97. Similarly, the S&P 500 rose by 1.61% to 4,045.64, and the Nasdaq Composite increased by 1.97% to reach 11,689.01. Notably, Zillow Group saw a 4.7% increase in its stock price after being upgraded by Piper Sandler to overweight from neutral. Analyst Thomas Champion raised his price target to $62 per share, citing product optionality, new initiatives, and improvements in the housing market. JPMorgan Chase also experienced a 1.2% surge in premarket trading following an upgrade from Jefferies to buy from hold, with the firm labelling it as “best-in-class.”

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