On Monday, the S&P 500 made a small gain as Wall Street examined whether the market rise could get further traction in the last week of June.
The Nasdaq Composite and S&P 500 both saw gains of roughly 0.2% and 0.4%, respectively. 26 points, or 0.1%, were lost by the Dow Jones Industrial Average.
All the major averages snapped multiweek winning streaks last week as the market rally came to a halt. An eight-week streak of gains was ended by a decline in the Nasdaq Composite of 1.44%. A five-week winning streak for the S&P 500 was snapped as it fell by 1.01%, while the Dow, which has underperformed in 2023, lost 1.67%.
The S&P 500 met resistance levels, which contributed to some of the week’s decline, according to Art Hogan, chief market analyst at B. Riley Financial.
Source (CNBC)
