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Crucial Wednesday: Inflation report and FOMC rate decision
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Fifth Times a Charm, But Just for the Nasdaq | Wall Street Today

Moomoo Recap US joined discussion · Jun 14 16:02
Fifth Times a Charm, But Just for the Nasdaq | Wall Street Today
Major stock indexes pulled back Friday, but the Nasdaq still climbed to a Fifth closing high.
For the week, the   $S&P 500 Index(.SPX.US)$ advanced 1.58%, while the   $Dow Jones Industrial Average(.DJI.US)$ fell 0.54%. The tech-heavy   $Nasdaq Composite Index(.IXIC.US)$ climbed 3.24%. The Nasdaq and S&P hit four closing highs by Thursday, and  all time trading highs Thursday.
In tech, there was a 'biggest boy' competition between Nvidia, Microsoft, and Apple this week, each grappling for the position of a most valuable company rated by market cap.
Friday, the University of Michigan consumer sentiment index declined to a seven-month low of 65.6 in June, from 69.1 in May, data released Friday morning showed. That's less than the 72 expected by Wall Street, according to Benzinga. Long-run inflation expectations inched up to 3.1% this month, from 3% in May, staying well above the 2.2%-2.6% range seen in the two years before the global pandemic hit, data showed.
That followed the producer price index data released Thursday, which came in lower than expected.
Wednesday was the busiest day of the week when the Federal Open Market Committee decided to keep the interest rates unchanged while policymakers issued projections of just one rate cut for this year, less than the three they forecasted in March.
Fifth Times a Charm, But Just for the Nasdaq | Wall Street Today
Friday was a low-volume day, and most industries were not moving much overall, but there was a development in Semiconductor equipment. The industry list tracked by moomoo fell 1%, while Semiconductor firms climbed 0.96%, a normal low-volume day movement comparatively. $ASML Holding (ASML.US)$ fell 2%.
Fifth Times a Charm, But Just for the Nasdaq | Wall Street Today
Gold climbed by about 1.2%, Silver climbed 2%. Crude oil futures traded flat, alongside flat Bitcoin prices.
$Norwegian Cruise(NCLH.US)$ was the lowest declined alongside the entire cruise industry after Bank of America Analysts said there were softer prices in June than May. The stock fell 7%, the lowest on the S&P 500, followed by $Carnival (CCL.US)$.
$Adobe (ADBE.US)$ was the highest gainer on the S&P 500, up about 14% after the firm's Q2 earnings beat and the firm offered strong year guidance and celebrated their AI photo tools.
$Novavax (NVAX.US)$ fell 4% Friday, pulling back this week after a 440% stock climb over five weeks
$Tesla (TSLA.US)$ fell just 2% after the firm's annual shareholder day held in Texas. The firm celebrates their goal of self-driving cars and electric Semi trucks, and the shareholders vote to move the firm to Texas permanently and CEO Elon Musk's $56B pay package.
Word from the herd: Mooers, what are you watching?
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