Last Week’s Market Recap: Tech Gains and Mixed Results Define the Week

Monday: Tech Gains Propel Markets Higher
Wall Street kicked off the week on a positive note, largely driven by strong performances in the technology sector. The Dow Jones Industrial Average climbed 0.5%, the S&P 500 rose by 0.8%, and the tech-heavy Nasdaq Composite led the pack with a 1.0% increase. The bullish sentiment in tech stocks helped outweigh some underlying concerns about the broader economy.

Tuesday: Retail Sales Disappoint, but Markets Stay Positive
Despite disappointing retail sales data, the major indexes managed to eke out gains, buoyed once again by rising tech shares. The Dow gained 0.2%, the S&P 500 added 0.3%, and the Nasdaq closed just slightly above even. Investors seemed willing to look past the weak retail numbers, focusing instead on the continued strength in technology stocks.

Wednesday: Market Closed for Juneteenth
The U.S. stock markets were closed mid-week in observance of the Juneteenth holiday, which commemorates the emancipation of enslaved African Americans. Trading activity resumed on Thursday.

Thursday: Chipmakers Weigh on Mixed Market
After the mid-week holiday, Wall Street struggled to find direction. Weakness in the semiconductor sector dragged on the major indices, resulting in a mixed finish for the day. The Dow bucked the trend with a 0.8% gain, while the S&P 500 slipped by 0.3%, and the Nasdaq fell by 0.8%. The decline in chipmakers was a notable drag on the broader tech sector.

Friday: Tech Weakness Continues, Markets Close Mixed
The volatility continued into Friday as chipmakers remained under pressure. The Dow managed to close just above even, while the S&P 500 and the Nasdaq both dipped by 0.2%. Despite the weakness in tech shares, the overall sentiment remained resilient enough to keep the major indexes from significant losses.

Weekly Summary: A Mixed Bag but Overall Gains
Despite some turbulence, particularly in the technology sector, Wall Street ended the week with a positive overall performance. The Dow, S&P 500, and Nasdaq all posted gains for the week, highlighting the market’s ability to shake off some negative economic data and sector-specific challenges.

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