Market Commentary - Foreign Markets
US Shares End Mixed; Crucial US Data Awaited As on : 25-Jun-24  10:50

On Monday, US shares ended mixed as markets braced for key PCE inflation data and comments from several Fed officials due this week to assess the monetary policy outlook. Among the major averages, the Dow closed higher, extending gains to a fifth straight session. The index ended up by 260.88 points or 0.67 percent at 39,411.21. The Nasdaq ended at 17,496.82, losing 192.54 points or 1.09 percent. The S&P 500 settled at 5,447.87, down 16.75 points or 0.31% from the previous close. The energy sector outperformed while the tech sector was the biggest laggard as the AI-rally frenzy pause continued. Nvidia is now down 16% from its peak reached last week when it topped Apple and Microsoft as the world?s most valuable company. Investors now look ahead to US PCE inflation data and fresh central bank commentary this week to assess the monetary policy outlook. Investors are also looking ahead to the presidential debate between Joe Biden and Donald Trump this week. Meanwhile, the dollar index dropped to 105.37 before recovering slightly to 105.48, but still remained weak, trailing previous close by 0.3 percent.

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