Market Recap – June 23rd
On Friday’s trading day, markets continued to push lower as investor sentiment towards the strength of the tech-fueled rally continues to weaken. With uncertainty over inflation promulgated by the Federal Reserve, investors have begun to lose some trust in the potential bull market. For the broad indices, the S&P 500 dropped 0.77%, the NASDAQ Composite went down 1.01%, and the Dow Jones fell 0.65%.
Despite the performance of the indices, one stellar stock with the name CarMax saw its shares rise 10.07% after first-quarter earnings beat revenues. In the red, however, was spaceflight company Virgin Galactic, losing 18.42% after planning to raise capital from their common stock.
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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.