Nasdaq plunges, Dow Jones reverses course and rises.

Wall Street closed the trading session on June 22nd with mixed results. While the Nasdaq fell sharply due to selling pressure in large-cap technology stocks, the Dow Jones maintained its upward momentum thanks to support from industrial, financial, and healthcare stocks.

Strong selling pressure in large-cap technology stocks caused the Nasdaq to fall more than 1%, while the Dow Jones remained in positive territory.

The trading session on June 22nd (US time) witnessed a clear divergence in the US stock market as a wave of sell-offs in large-cap technology stocks dragged the Nasdaq index down sharply, while the Dow Jones managed to maintain its positive performance thanks to support from value stocks.

At the close of trading, the Dow Jones Industrial Average rose 148.01 points, or 0.3%, to 51,712.71. In contrast, the S&P 500 fell 27.79 points, or 0.4%, to 7,472.79. The Nasdaq Composite lost 351.33 points, or 1.3%, to 26,166.60. Meanwhile, the Russell 2000, representing small-cap companies, rose 0.8% to 3,004.40.

This development suggests that capital is trending away from high-growth stocks and towards defensive companies or those that benefit from the economic cycle.

The market's focus during the session was the sharp correction in large-cap technology companies. After a period of impressive growth driven by a wave of investment in artificial intelligence (AI), many investors began to show caution due to the high valuations and increasing investment costs of technology corporations.

Alphabet shares fell as much as 5%, becoming one of the biggest drags on the Nasdaq. Other tech giants also faced selling pressure, with Meta Platforms, Amazon, and Microsoft all dropping between 2.3% and 4.7%.

According to analysts, the market is reassessing the ability of Big Tech companies to sustain their profit growth rates amid continuous increases in spending on data centers and AI infrastructure. While the industry's long-term outlook remains positive, investors are becoming more cautious about the massive investments tech corporations are making to maintain a competitive edge.

You may also like

VN-Index rose for the second consecutive session thanks to bank stocks.Strong capital inflows into banking stocks helped the VN-Index extend its gains on June 23rd. Market liquidity surged to a five-week high, although the overall picture still showed a mixed performance.

E10 gasoline is now available nationwide; is the use of biodiesel mandatory yet?TPO - Can Tho has not yet mandated the use of B5 and B10 biodiesel, but encourages organizations and individuals to participate in the business and use of biodiesel.

BRG wants to develop a 1,000-hectare project in Hung Yen.The BRG Group, owned by businesswoman Nguyen Thi Nga, has proposed developing several key projects in Hung Yen, including an international festival city spanning nearly 1,000 hectares.

Bill Northey, senior investment director at US Bank, noted that technology stocks tend to move in the same direction due to being heavily influenced by market sentiment. However, he believes the fundamentals of the AI ​​data center sector remain very strong and continue to support the industry's long-term growth prospects.

Besides Big Tech stocks, SpaceX shares also attracted attention as they fell sharply after a period of rapid growth. Profit-taking pressure and concerns about valuation made this stock one of the factors dragging down the Nasdaq during the session.

Conversely, the Dow Jones continued to be supported by industrial, financial, and healthcare stocks. Notably, AbbVie shares surged after announcing the acquisition of Apogee Therapeutics for approximately $10.9 billion. This news helped Apogee shares jump nearly 47%, becoming one of the biggest gainers on the market that day.

Another factor significantly impacting investor sentiment is developments in the energy market. World oil prices fell by more than 3% after positive signals emerged from negotiations between the US and Iran aimed at reaching a peace agreement, thereby reducing the risk of disruptions to oil supplies from the Middle East.

Brent crude oil prices fell to around $77.50 per barrel, while US WTI crude oil retreated below $74 per barrel. The decline in energy prices is expected to help ease inflationary pressures in the coming period, creating more favorable conditions for the US economy.

However, the positive impact from falling oil prices was not enough to bring the market up in unison. Investors remain focused on the monetary policy outlook of the US Federal Reserve (Fed) after the agency continued to maintain a cautious stance on inflation.

Rising US Treasury yields added pressure on growth stocks, particularly technology stocks. In an environment of persistently high interest rates, money tends to shift toward safer assets or companies with stable cash flow and attractive valuations.

According to analysts, Wall Street's focus this week will be on the Personal Consumption Expenditures (PCE) report, a measure of inflation that the Fed pays particular attention to. The results of this report will play a crucial role in shaping market interest rate expectations for the second half of the year.

You may also like

OpenAI, Anthropic, and SpaceX are about to face their toughest test yet from Wall Street.VTV.vn - The biggest AI companies, OpenAI, Anthropic, and SpaceX, are about to have a new "boss" to answer to: Wall Street.

The privilege of owning 20-25 m² of green space per person elevates the value of Vinhomes Wonder City.Pioneering the establishment of a standard of 20-25 m² of green space per person, more than 10 times that of the inner city, Vinhomes Wonder City is leading the wave of migration towards the West of Hanoi.

Urban tourism planning 'gives wings' to real estate in southern Da Nang.The southern corridor of Da Nang is gradually developing into a vibrant tourism hub, thereby increasing the attractiveness of the real estate market to investment capital.

Furthermore, the upcoming second-quarter earnings season will bring many new signals for investors. In particular, Micron Technology's earnings report is seen as a crucial test for the wave of AI investment driving the market. The company's results will partly reflect the strength of demand for memory chips and semiconductors used in artificial intelligence.

The trading session on June 22nd showed increasingly clear divergence in the US stock market. While the Dow Jones continued to be supported by value and defensive stocks, the Nasdaq faced downward pressure as investors reassessed the growth prospects of the technology sector. Upcoming inflation data and semiconductor company earnings results are expected to be key factors determining Wall Street's trend in the coming trading sessions.

Source: https://thoibaonganhang.vn/nasdaq-lao-doc-dow-jones-nguoc-dong-tang-diem-183834.html