Market Recap – June 28th
On Wednesday’s trading day, markets remained fairly flat as investors still remain uncertain on the economy’s strength, waiting for earnings season to dictate their judgment. A new address by Fed chair Jerome Powell did spook away any upward movements as he laid the groundwork for potential consecutive hikes this year. For the broad indices, the S&P 500 went down 0.04%, the NASDAQ Composite went up 0.27%, and the Dow Jones fell 0.22%.
One big winner of the day was image-browsing platform Pinterest, with its shares up 6.59% following positive Wall Street sentiment over their Amazon partnership later this year. In the red was consumer food manufacturer General Mills, with its shares down 5.17% after posting an earnings beat but a revenue figure that just missed forecasts.
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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.