Nvidia Snaps 8-Week Winning Run, S&P 500 Marks Longest Streak Without A 2% Drop Since Great Recession, Oil Prices Stage Comeback: This Week In The Market

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Nvidia Snaps 8-Week Winning Run, S&P 500 Marks Longest Streak Without A 2% Drop Since Great Recession, Oil Prices Stage Comeback: This Week In The Market - Benzinga

Quick Summary:

Toward the end of the trading week, which was shortened by the Juneteenth holiday, profit-taking in chipmaker stocks emerged, tempering earlier gains.Nvidia Corp.(NASDAQ:NVDA) snapped a eight-week winning streak, dropping by more than 4% for the week.

Concerns are growing among analysts regarding the lack of broad participation in the stock market rally and the significant concentration of major equity indices in a few mega-cap names.

Both the S&P 500 and Nasdaq 100 indices surged to new historic highs on Tuesday, driven by strong performance in the technology and semiconductor sectors.