Market Recap – June 22nd
On Thursday’s trading day, markets initially continued to push lower as resistance begins to crack down on tech’s rally. Currently, this week is poised to be the Nasdaq’s worst week since April and will also be snapping a 5-week positive streak for the S&P 500. As investors sit and wait for the next round of tech’s earnings, all that is pushing markets seems to be the Fed’s comments and economic data. For the broad indices, the S&P 500 rose 0.37%, the NASDAQ Composite went up 0.95%, and the Dow Jones just fell 0.01%.
One of the biggest winners of the day was the e-commerce company Overstock, rising 17.28% after the successful bid on bankrupted Bed Bath & Beyond’s digital assets and likeness. Another winner despite this week’s tech pullback was Amazon, growing 4.26% after analysts noted opportunities for growth in their Prime division.
Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio, or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!
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.