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NEW YORK, investor.id – American (US) investors are reviewing upcoming economic data and preparing for the end of June and the second quarter of 2023.

The moves followed a losing day on Wall Street. The Nasdaq Composite led the declines, losing nearly 1.2% as investors took advantage of some technology stocks.

Tesla shares slid 6%. While Nvidia, Alphabet and Platform Meta all finished over 3% lower.

The S&P 500 closed around 0.5% lower, while the Dow finished slightly below flat. It was the sixth consecutive negative session for the Dow’s 30 stocks, the longest losing streak since September 2022.

Despite Monday’s lows in trading (Tuesday morning WIB), the S&P 500 and Nasdaq are still on pace to end June up more than 3%, while the Dow Jones is poised to gain nearly 2, 5% per month.

The closing Friday (23/6) will mark the end of term II-2023 and semester I-2023. The Nasdaq gained more than 9% in the quarter, while the S&P 500 and Dow are on track to end spells of gains of more than 5% and 1%, respectively.

“It’s not uncommon to see trends that have persisted throughout the quarter start to reverse a bit,” said Scott Ladner, CIO of Horizon Investments, according to a CNBC International report Tuesday (6/27). ).

He said that the fact that small cap did well today and the Nasdaq did poorly today might be a reflection of the portfolio rebalancing effect at the end of the quarter more than anything else. . Indeed, the Russell 2000 ended on Monday (6/26) with a marginal gain of 0.09%.

Investors will watch Tuesday’s trading for morning data covering home sales, durable goods and consumer confidence. Walgreens is expected to release quarterly results before the bell.

They will also be keeping an eye out for any developments coming out of Russia after the brief mutiny seen over the weekend.

Stocks Head for Victory Month and Quarter

Despite Monday’s declines, stocks are still on pace to end the month and the second quarter of 2023 ended higher at Friday’s close.

This is where each of the three major Wall Street indices is positioned.

1. Dow

Month to date: +2.5% (at the pace of the best month since January).

Quarterly total: +1.3% (at the pace of the best quarter since Q4-2022).

2.S&P 500

month–For–date: +3.6% (at the pace of the best month since January).

Quarterly total: up 5.3%.

3. Nasdaq Composite

month–For–date: up 3.1%.

Quarterly total: up 9.1% (would mark the fourth consecutive positive month).

US stocks continue to rise on acquisition report

American Equity Investment Life rose more than 10% in extended trading after Bloomberg reported that Canadian investment management firm Brookfield was close to reaching an agreement for the acquisition.

The news comes after American Equity rejected an offer of US$45 per share from Prosperity, which is backed by Elliot Management, in December 2022. American Equity shares closed Monday at US$45.10 per share after rising more than 10% during the session.

Slightly higher stock futures

Stock futures rose slightly Monday evening shortly after 6 p.m. ET.

Dow Jones Industrial Average futures added 41 points, or 0.1%. S&P 500 and Nasdaq 100 futures also rose around 0.2% each

Editor: Grace El Dora
(graceldora@gmail.com)

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