July 01, 2024

Stocks End Week Narrowly Mixed

Latest Publications Stocks End Week Narrowly Mixed

Technology Trims Record First Half

U.S. equities ended lightly mixed last week, with the Dow and S&P 500 slipping less than 0.1% while the Nasdaq Composite ended fractionally higher despite a second weekly pullback in AI bellwether NVIDIA (-2.4%). The Fed’s preferred measure of inflation, the core PCE price index, was the focus of last week’s economic releases, coming in at a scant 0.1% increase month-over-month. Wall Street ended the second quarter with a record-breaking technology driven rally that spurred a near 15.3% return during the first half of the year.

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The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.