Nasdaq ends higher on tech strength, Dow pulls back

Quick Summary:

The Nasdaq rallied 1.3% on Tuesday, buoyed by strength in Nvidia and other tech megacaps, while the Dow slipped as retailers weighed and investors waited for crucial inflation data due out this week.

Potentially adding to the bias for megacaps was the Conference Board's survey, which showed US consumer confidence easing slightly in June amid worries about the economic outlook.

Chips were among the biggest boosts for the S&P 500 technology index's recovery from a three-day slide while companies such as Alphabet, up 2.7%, and Meta Platforms, rising 2.3%, were the biggest boosts to the communication services index.

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Category: EconomyBusiness

Markets: Malaysia

Topics: ChipBoost InflationData /Business/ NasdaqRally ConsumerConfidence FedGauge TechBounce Markets MegaCapStrength

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-26 @ 07:31:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 711 words

Reading Time: 4 minutes read

Sentences: 26 lines

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Copyright Owner: © The Star

News ID: 21389751

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