Market Recap – June 24th
Markets on Friday were doing a bit better than the past few weeks. All major indexes were up with The Dow Jones Industrial Average rising 0.64%, the S&P 500 gaining 0.95%, and the Nasdaq Composite rising 1.62%. The consensus seems to be that the market is becoming increasingly concerned with the global economic growth; most of the growth in the indexes seems to come from defensive sector stocks in areas like consumer staples, utilities, real estate, and healthcare.
Looking at specific investments, we’re watching Airbnb and Dow; Airbnb saw its shares drop 2% after JMP Securities downgraded it with the explanation that travel demand has already been factored into Airbnb’s current valuation. Dow, the chemical maker, saw shares drop 5.8% after a similar downgrade from Credit Suisse.
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.