Wednesday, June 9, Market Recap

Good Evening,

Today, June 9…

The DJIA fell 0.40%

The S&P 500 was down 0.20%

The Nasdaq Composite slipped 0.10%

Industrials and financials led the market today.

General Market Review

Tech

As yields fall, investors are paying more attention to mega cap growth stocks because they see better risk to reward. Apple and Alphabet were up 0.31% and 0.40%, respectively.

Energy

Oil prices dropped due to lower-than-expected weekly crude inventories. International travel is picking up in the summer and bringing optimism to energy demand.  ExxonMobil added 0.82% today.

Financials

Regional and large banks were in the red today due to concerns on lower net interest margins. Charles Schwab and JPMorgan Chase fell 3.01% and 1.25%, respectively.

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