Market Recap – June 16th
On Friday’s trading day, markets fell slightly lower as worries over the effects of further interest rate hikes hover over the minds of investors. After a week of big news from the Fed, the upcoming week is crucial in deciding whether investor sentiment is high enough to continue its month-long rally. For the broad indices, the S&P 500 dropped 0.37%, the NASDAQ Composite went down 0.68%, and the Dow Jones fell 0.32%.
One of the biggest winners of the day was tech manufacturer iRobot, with its stock rising 21.20% after the U.K. recently approved of Amazon’s $1.7 billion acquisition of iRobot. Another player in the green was space company Virgin Galactic, which saw its shares rise 16.50% after they confirmed their first commercial space flight slated for this month.
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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.