Asia Mixed While European Markets Recover; Crude Inches Toward $80 - Global Markets Today While US Slept
Portfolio Pulse from Akanksha Bakshi
On June 11th, U.S. stock markets closed mixed with the S&P 500 and Nasdaq reaching record highs, driven by a surge in Apple shares. Apple was upgraded by DA Davidson, citing AI advancements. The NFIB Small Business Optimism Index increased. Most S&P 500 sectors ended lower, while IT and communication services stocks closed higher. The Dow Jones closed down, while the S&P 500 and Nasdaq closed up. Asian markets were mixed, and European markets showed gains. Crude oil prices increased, while natural gas declined.
June 12, 2024 | 10:45 am
News sentiment analysis
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NEGATIVE IMPACT
The Dow Jones Industrial Average was down 0.31%, closing at 38,747.42, with declines in utilities, financial, and industrial stocks.
The Dow's decline was driven by losses in key sectors, indicating negative market sentiment, likely leading to short-term price depreciation.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Apple shares surged over 7% and hit new all-time highs after DA Davidson upgraded the stock from Neutral to Buy, raising the price target from $200 to $230, citing AI advancements and an upcoming iPhone upgrade cycle.
The upgrade by DA Davidson and the raised price target are significant positive catalysts for Apple, likely driving short-term price appreciation.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
The S&P 500 rose 0.27%, ending the day at 5,375.32, driven by gains in information technology and communication services stocks.
The S&P 500's rise was driven by gains in key sectors, indicating positive market sentiment, likely leading to short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80