Business NewsRadical ConsumeristSilicon Valley Insider

Recent Developments & Impacts on Investors: Market Trends Take a Breather

Updated 21.6.2023 16:33

The stock market experienced a downturn on Tuesday the opening trading day of the week due to the Juneteenth holiday, following a strong rally pushing the market to unseen levels in over a year​.  

The Dow Jones Industrial Average fell by 200 points or 0.58%. The S&P 500 slid 0.42%, while the Nasdaq Composite declined 0.25%. Decliners outpaced advancers on the New York Stock Exchange 2 to 1 on Tuesday with the dip continuing into Wednesday​​.

Certain sectors, such as energy, experienced significant losses, with a decline of more than 1%. Prominent companies like Intel, Nike, and Boeing also contributed to the Dow’s drop, each falling by more than 3%​​. On the other hand, homebuilders and certain tech companies managed to outperform. PulteGroup, D.R. Horton, and Lennar each rose by more than 1%, while Nvidia also bucked the trend with a rise of over 1%​.

Despite the downturn, the stock market has been up, with the S&P 500 posting its best weekly performance since March and the Nasdaq Composite marking its eighth consecutive positive week​​. This positive trend is despite the Federal Reserve’s decision to skip a June rate hike, breaking its streak of ten consecutive interest rate increases​​.

???? Also Read: Ride the AI Boom With These 5 Tech Stocks

Investor bullishness has also risen to 45.2% from 27.4% several weeks ago, the highest level since November 2021​​. Investors have also absorbed positive housing starts data for May, which surpassed estimates​​.

Looking ahead, investors were keenly awaiting a Q4 report from FedEx, and companies like PayPal are on the rise after securing a loan accord with KKR & Co​1​. Tuesday FedEX reported:

  • New Fiscal 2024 Outlook, Including $1.8B Of DRIVE Cost Savings
  • Sees FY24 EPS $16.50-$18.50 Vs $18.36 Est.
  • Expects To Repurchase $2.0B Of FedEx Common Stock

PayPal Expects $5 Billion in buybacks following the deal. Bank of America suggests that investors seeking exposure to banking stocks could find “attractive risk/reward” in Wells Fargo, Citigroup, Goldman Sachs, and East West Bancorp​​.

Stay ahead of the curve with our weekly newsletter. Subscribe now to get comprehensive coverage of all things investing, from market trends to investment strategies. Subscribe below!

Read More:

???? This 15 Cent Earned, Wage Access Company, is Eating the Lunch of its Much Larger Fintech Competitors

???? 5 Ultra High-Yield ETFs You’ve Probably Never Heard Of, With Yields as High as 32.35%

???? Fed Announces Rate Hike Pause, But Says to Expect More Hikes Later This Year (VIDEO)

Follow Wealthy VC on Social Media: Facebook | Instagram | Twitter | LinkedIn | GETTR | Tumblr

????Join the Discussion in the Wealthy VC Investor Group

????Have a Stock Tip or New  Story Suggestion? Email us at

Justin Hopper

Justin Hopper is an editor of the digital media at Wealthy VC and TCI. If you have questions don't hesitate to reach out! Twitter | Email

Related Articles

Back to top button