Mixed day for US stocks, with S&P flat, Nasdaq up, and Dow down

From Nasdaq: 2024-08-13 09:33:00

1. U.S. stocks closed mixed on Monday with the S&P 500 almost flat, the Nasdaq gaining, and the Dow in negative territory. The DJI declined 0.4%, the S&P 500 gained 0.23 points, and the Nasdaq climbed 0.2%.

2. Technology stocks were the biggest gainers while communication services stocks were the worst performers. XLK gained 0.8% while XLC fell 0.7%. The fear-gauge VIX was up 1.67% to 20.71.

3. Investors await key inflation data with the PPI and CPI readings scheduled for release this week. The upcoming inflation data is crucial to gauge the health of the economy and the Federal Reserve’s rate cut path in the months ahead.

4. Monday ended with most S&P 500 sectors in the negative except for tech stocks. Upcoming retail sales reports from Walmart and Home Depot are eagerly anticipated later in the week.

5. No major economic data was released on Monday. Demand for clean hydrogen energy is projected to grow exponentially, with Zacks Investment Research providing insights into three companies leading in this sector.



Read more at Nasdaq: Stock Market News for Aug 13, 2024