Investing.com – Stocks ended the week essentially flat, as if traders were exhausted by all the drama that week plunged on them. But S & P 500 hit a new intraday high for another day in a row.
It ended down 0.13% after hitting a new high of 2,964.15 early in the day. It swayed at the seal, closed down 0.13%, and dropped back 0.24%. The decline was the first for the indexes after four-fold gains.
Among the influences this week, the American drone was shot down from Iran's coast, which almost caused an American attack on Iranian military facilities. The Federal Reserve signaled an interest rate cut and perhaps more came. The chairman said the central bank was concerned about US production and global economic growth. President Donald Trump agreed to meet with Chinese President Xi Jinping at next week's G20 summit in Tokyo, hoping to negotiate a trade deal. And the president withdrew huge charges on Mexico.
For the week, S & P 500 rose 2.2%, while Dow rose 2.4% and Nasdaq rose 3%. The weekly win was the third straight for the big indices. But June has been one of the strongest june stores since the 1
Only 12 of the 30 Dow shares were higher, led by UnitedHealth Group (NYSE:), Exxon Mobile (NYSE 🙂 and Verizon Communications (NYSE :). The laggards included Walt Disney (NYSE :), Dow Inc (NYSE 🙂 and United Technologies (NYSE :).
Energy, health care and utilities were among the strongest sectors of the day. Real estate, technology and industry were the weakest. But gains and losses were modest.
jumped 9% in the week and hit $ 57.42. peaked at $ 1,400 an ounce, its highest close to nearly six years as interest rates fell. The yield fell shortly below 2% and it also fell.
Next week is not big on the company's earnings. The reports of the note include Lennar (NYSE 🙂 and FedEx (NYSE :), both Tuesday.
There are some important financial reports to look for, including new sales on Tuesday and a first-quarter gross domestic product review on Thursday. The biggest economic event is the G-20 Summit, which starts on Friday in Tokyo.
Interest rates rose slightly, despite the Fed's signal, it could lower rates quickly. Investing.com puts the odds for a Fed's 100% July meeting rate. The Fed's main federal fund rate is 2.25% to 2.5%.
S & P 500 winners and losers
Healthcare giant Humana (NYSE :), auto dealer operator CarMax (NYSE 🙂 and oil service company Baker Hughes (NYSE 🙂 were among the best users in S & P 500.
Industrial Gas Supplier Sealed Air (NYSE :), cruise operator Carnival (NYSE 🙂 and cigarette maker Altria (NYSE 🙂 were among S & P 500 laggards.
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