Market Recap – July 12th
On Wednesday’s trading day, markets climbed from positive economic sentiment, with the S&P and Nasdaq closing at their highest levels since April of last year. Investors were pleasantly surprised this morning following the cooler-than-anticipated CPI report for June, showing consumer prices only rose 0.2% monthly. Now with more data available, several hope that the Fed may loosen its hawkish stance and only pursue one rate hike this year. For the broad indices, S&P 500 rose 0.74%, the NASDAQ Composite went up 1.15%, and the Dow Jones grew 0.25%.
One of the biggest individual winners of the day was Domino’s Pizza, with its stock rising 11.15% after a partnership deal with food delivery services such as Uber Eats and Postmates. Conversely, one of the largest decreases of the day was seen by EV maker Lucid, with its share value down 11.82% after second-quarter deliveries that fell far shorter than estimates.
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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.