Market Recap – July 13th 💰

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Market Recap – July 13th

On Thursday’s trading day, markets continued their four-day streak to higher levels as more inflation data comes in lighter than expected. On the producer side, prices for the month of June only rose by 0.1%, less than the anticipated 0.2%. With hopes the Fed pauses rates following this month’s decision, investors will soon place their focus on the second-quarter earnings results set to release. For the broad indices, the S&P 500 grew 0.85%, the NASDAQ Composite went up 1.58%, and the Dow Jones rose 0.14%. For individual stocks, tech companies Google and Shopify made stellar gains off implementations from AI. Alphabet, Google’s parent company, rose by 4.72% following the launch of their ChatGPT competitor Bard into European and Brazilian markets. The e-commerce giant Shopify had its share value increase by 6.72% after the showcase of its newest AI tool targeted at entrepreneurs.

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