6 August
Reuters: S&P 500 on track for first quarterly loss since 2023
According to Reuters, US stocks closed slightly higher yesterday. The S&P 500 index rose 0.16%, though it remains down about 2% year-to-date and is on track for its first quarterly loss since mid-2023. The Nasdaq gained 0.46%, while the Dow edged up 0.01%.
Apple climbed 1.4%, helping to offset a 0.6% decline in Nvidia. Meanwhile, Tesla surged 3.45%, continuing its recent rally despite losing market share in Europe.
Investor sentiment was influenced by concerns over US President Donald Trump's trade policies and weakening consumer confidence. According to Reuters, the consumer confidence index has now fallen to its lowest level since February 2021.
In the broader market, seven of the eleven S&P 500 sectors indices posted gains. The communication services sector led with a 1.43% increase, while consumer staples rose 0.98%.
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