Market Recap – June 26th 💰

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Market Recap – June 26th

On Monday’s trading day, markets started the new week with similar momentum as last week, pushing lower ahead of another Jerome Powell address this week. Despite major worries over financial instability subsiding, investors now place all their concerns on tighter rates that are currently expected later this year. For the broad indices, the S&P 500 dropped 0.45%, the NASDAQ Composite went down 1.16%, and the Dow Jones fell 0.04%.

On the earnings front, one of the biggest losers of the day was the popular cruise line Carnival. After reporting a smaller-than-expected loss, Cruise fell 7.59% despite being over 70% year-to-date. Not all stocks made losses, as EV maker Lucid grew 5.23% following their announcement to supply battery and powertrain systems to automaker Aston Martin.

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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.

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