Latest news with #marketupdate
Globe and Mail
a day ago
- Business
- Globe and Mail
Stock Market News for Jun 27, 2025
U.S. stocks closed higher on Thursday, with the S&P 500 inching closer to a new record high as the ceasefire between Iran and Israel continued to hold, and a batch of economic data gave reasons enough for the Federal Reserve to go for a rate cut. All three major indexes ended in positive territory. How Did The Benchmarks Perform? The Dow Jones Industrial Average (DJI) jumped 0.9%, or 404.41 points, to finish at 43,386.84 points. The S&P 500 rose 0.8%, or 48.86 points, to end at 6,141.02 points and is just a few points away from hitting an all-time high. Communication services, consumer discretionary, materials, and industrials stocks were the biggest gainers. The Consumer Discretionary Select Sector SPDR (XLY) gained 0.9%, while the Communication Services Select Sector SPDR (XLC) and Materials Select Sector SPDR (XLB) added 1.2% and 1.1%, respectively. The Industrials Select Sector SPDR (XLI) added 1%. The Energy Select Sector SPDR (XLE) jumped 1.4%. Nine of the 11 sectors of the benchmark index ended in positive territory. The tech-heavy Nasdaq climbed 1%, or 194.36 points, to close at 20,167.91 points. The fear-gauge CBOE Volatility Index (VIX) was down 1.01% to 16.59. Advancers outnumbered decliners on the NYSE by a 4.76-to-1 ratio. On Nasdaq, a 2.3-to-1 ratio favored advancing issues. A total of 16.22 billion shares were traded on Thursday, lower than the last 20-session average of 18.10 billion. S&P 500 on Track to Hit New Highs Stocks rallied on Thursday after a batch of economic data raised hopes that the Federal Reserve could finally resume rate cuts in the coming weeks. The 90-day pause on liberation-day tariffs ends on July 8. However, White House spokesperson Karoline Leavitt downplayed the trade deal deadlines as, she said, 'The deadline is not critical.' It was also unlikely that President Donald Trump would have implemented those hefty tariffs, which he paused after markets tumbled. Stocks have since made a solid rebound. On Thursday, the S&P 500 closed just a few points away from its all-time intraday high of 6,147.43 points hit in February. The S&P 500 has had a remarkable turnaround, and is up 27% from its intraday low this year, after nearly entering the bear market, triggered by tariff fears in April. The index is now up 4% for the year after overcoming several challenges, including tariffs, inflationary pressures and geopolitical tensions. Tech Stocks Rally The Nasdaq is also on track to hit a new record high. The Nasdaq rally has largely been driven by enthusiasm surrounding artificial intelligence (AI). On Thursday, NVIDIA Corporation ( NVDA ) shares rose another 0.5% after the AI darling's stock hit an all-time high on Wednesday to regain its position as the world's most valuable company. Other tech stocks like Apple, Inc. ( AAPL ) gained 0.3%, while Salesforce, Inc. ( CRM ) rose 1.1%. Apple has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Economic Data Raises Rate Cut Hopes A batch of economic data released on Thursday raised hopes of a rate cut. The final estimate of the GDP showed that the economy shrank 0.5% in the first quarter of 2025, sharply down from the initial estimate of a 0.2% decline. Also, the jobs data released earlier this month hints at a shrinking labor market, which appeared to support the case for the central bank to start rate cuts in the coming weeks. Although Federal Reserve Chairman Jerome Powell said that the central bank is in no hurry to cut interest rates and is ready to wait and watch the inflationary effects of Trump's tariffs on the economy, several other Fed officials have said that a rate cut could come as early as July. Meanwhile, fears of another Wall Street bloodbath owing to the ongoing Middle East crisis have alleviated as the ceasefire between Iran and Israel continues to hold. Economic Data The Labor Department reported that jobless claims totaled 236,000 for the week ending June 21, a decrease of 10,000 from the previous week. The four-week moving average was 245,000, a decrease of 750 from the previous week's revised average of 245,750. Continuing claims came in at 1,974,000, an increase of 37,000 from the previous week's revised level of 1,937,000. The 4-week moving average was 1,941,000, an increase of 16,750 from the previous week's revised average of 1,924,250. The Commerce Department said that durable goods orders soared 16.4% in May after declining 6.6% in April, to record its biggest gain in 11 years. In a separate report, the National Association of Realtors said that pending home sales jumped 1.8% to 72.6 in May, after tumbling by 6.1% to a revised 71.3 in April. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report Salesforce Inc. (CRM): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report
Yahoo
2 days ago
- Business
- Yahoo
CoinDesk 20 Performance Update: SUI Drops 4.6%, Leading Index Lower
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 2982.19, down 0.6% (-17.53) since 4 p.m. ET on Wednesday. Three of 20 assets are trading higher. Leaders: BCH (+2.7%) and ETH (+0.5%).Laggards: SUI (-4.6%) and HBAR (-3.5%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
CoinDesk 20 Performance Update: Chainlink (LINK) Gains 8.4%, Leading Index Higher
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 2967.37, up 4.0% (+114.4) since 4 p.m. ET on Monday. All 20 assets are trading higher. Leaders: LINK (+8.4%) and NEAR (+8.2%).Laggards: LTC (+1.6%) and BCH (+2.0%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
Heard on the Street Friday Recap: Home Cooking
What happened in markets: Stocks ended last week little changed. The S&P 500 was down 0.2% Friday, and the Dow Jones Industrial Average added just 35 points. The Nasdaq Composite lost 0.5%. Kroger shares led the S&P 500. The supermarket chain said on its earnings call that economic jitters are driving more shoppers to its stores, as restaurant prices rise. Shares rose almost 10% (🎧 listen here.)
Yahoo
19-06-2025
- Business
- Yahoo
CoinDesk 20 Performance Update: Uniswap (UNI) Gains 4.3%, Leading Index Higher
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 3001.7, up 0.8% (+23.65) since 4 p.m. ET on Wednesday. Seventeen of 20 assets are trading higher. Leaders: UNI (+4.3%) and POL (+2.8%).Laggards: AVAX (-1.9%) and DOT (-0.9%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
