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Wall Street Fluctuated on Friday.


Wall Street Fluctuated on Friday.



London, 21 June 2024


On Friday, Triple Witching Day, Wall Street's key averages were swinging close to the flat line. As shares of Nvidia fell for a second day, relinquishing its position as the most valuable business in the world, the S&P 500 was trading close to the record high of 5,500 reached during the previous session.




The most negatively impacted industry was finance, with shares of JP Morgan, BofA, and Wells Fargo down more than 1%. Conversely, communication services saw the biggest increase, driven by a 2.4% increase in Alphabet shares.


Peers of Nvidia were also feeling the heat, including Arm Holdings (-0.6%), Micron Technology (-2.2%), Qualcomm (-0.9%), and Broadcom (-2.3%).


As price pressures ease, traders are taking in the larger-than-expected US S&P Global PMIs, which show higher growth in private sector business activity.


Triple witching may also make trading more erratic. The S&P 500 has increased by 0.9% this week, the Nasdaq has increased by 0.3%, and the Dow Jones has increased by 1.8%.


Stats


The US 500, the primary stock market index, has risen 693 points, or 14.53%, since the start of 2024, based on trading on a contract for difference (CFD) that mirrors this benchmark index from the US. In June 2024, the US S&P 500 hit its highest point ever recorded in history, which was 5506.35. The most recent update to the United States Stock Market Index (statistics, projections, historical chart) was made on June 21, 2024.


Forecast


The US 500, the primary stock market index, has risen 693 points, or 14.53%, since the start of 2024, based on trading on a contract for difference (CFD) that mirrors this benchmark index from the US. By the end of the current quarter, experts and Trading Economics global macro models predict that the US S&P Index will trade at 5245.31 points. In the future, we predict that it will trade at 5149.79 in a year.




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