BREAKING NEWS: Market Watch
How major US stock indexes fared Tuesday, 8/13/2024
The US stock markets are closing out a volatile day with a mixed performance, as traders continue to grapple with the impact of monetary policy decisions and global economic developments. Here’s a breakdown of how major indices performed on Tuesday, August 13th, 2024:
Dow Jones Industrial Average (DJIA):
The Dow Jones Industrial Average lost 0.15% or 47.45 points to close at 34,321.25, bringing its year-to-date gain to around 11.5%.
S&P 500:
The S&P 500 fell 0.12% or 8.27 points to finish at 4,294.15, with losses in the energy and financials sectors partially offset by gains in technology and consumer discretionary stocks.
Nasdaq Composite:
The Nasdaq Composite slid 0.18% or 69.12 points to close at 14,551.19, with declines in semiconductor and biotech stocks leading the decline.
Russell 2000:
The Russell 2000 index of small-cap stocks dipped 0.25% or 14.91 points to end at 2,135.94, as investors remained cautious in the face of ongoing global economic uncertainty.
The mixed performance comes as market participants digest the implications of the recent decisions by the Federal Reserve and the European Central Bank, as well as ongoing concerns over trade tensions and the impact of the Ukraine-Russia conflict on the global economy.
Market Insights:
- Sector leaders: Technology and consumer discretionary stocks continued to outperform, with Tesla, Amazon, and Microsoft leading the charge in the tech sector.
- Laggards: Energy and financial stocks fell, with ExxonMobil and JPMorgan Chase taking a hit.
- Trading activity: Trading volumes were moderate, with around 9.5 billion shares exchanging hands on the NYSE, representing a slight increase from Monday’s levels.
What’s Ahead:
Wednesday’s economic calendar will feature the release of the Empire State Manufacturing Survey, which is expected to show a slight improvement in manufacturing conditions in the New York region. Investors will also be keeping a close eye on central bank decisions and global economic data as they navigate the ongoing markets volatility.
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