Market Commentary - Foreign Markets
NASDAQ hits record, sees 3% weekly gain As on : 17-Jun-24  12:34

The US equity markets ended with modest losses in the last session amid an overall rangebound movement. Gains in tech counters stayed in place though as Nasdaq ended at a record closing high.The index added 0.1% while the S&P 500 edged marginally down. The Dow eased 0.2% on the day. For the week, the Nasdaq spiked around 3% and the S&P 500 rose 1.6%. The Dow eased by 0.5% though on weekly basis. The US interest rate outlook continued to weigh on the sentiments. The Federal Reserve officials forecast just one rate cut this year following latest monetary policy meeting. The coming week will see plenty of key data pointers for the US markets. These include Empire State manufacturing survey, US retail sales, industrial output, home builder confidence index and home sales data. Markets will also get to see S&P flash US services PMI and the S&P flash US manufacturing PMI for June.

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