The S&P 500 Index is down 0.15% today, while the Dow Jones Industrial Average has gained 0.23%, marking a new all-time high. The Nasdaq 100 Index is up 0.30%. Market activity was influenced by positive U.S. economic reports, including a 0.9% increase in May retail sales, surpassing expectations of 0.6%, and a 3.8% rise in pending home sales, the largest growth in 20 months.
Investors are looking ahead to the conclusion of the two-day FOMC meeting today, amid speculation that interest rates will remain unchanged. Current market data shows a 5% chance of a 25 basis point rate hike. Additionally, the reopening of the Strait of Hormuz between the U.S. and Iran has led to a drop in crude oil prices, influencing overall market sentiment.
In tech stock movements, chipmakers are rebounding, with Applied Materials rising over 8%. Conversely, telecom stocks are under pressure, including Charter Communications and Verizon, which are both down more than 2%. Over in overseas markets, the Euro Stoxx 50 reached a record high, and Japan’s Nikkei-225 also hit an all-time high.
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