The U.S. indices didn’t reveal any surprises during the month just passed. They kept its rising momentum and recorded fresh all-time highs, after a small slowdown in May. Dow Jones industrial average index rose 1.62% the previous month while S&P added 0.48% at its value. Both indicators locked their third winning month in a row and the seventh in the last eight months. The exception was the high-tech index, the Nasdaq Composite which recorded losses of 0.94% in June and snapped a seven-month rising streak. The Fed interest rate hike on June 14th left indifferent the stocks as it has been digested from the market earlier.
The biggest single-day losses of the three most-known indices in June took place on June 29th following strong sell-offs in technological stocks. Shares of Facebook, Amazon, Netflix, Apple and Google-parent Alphabet all dropped more than 1%. Chip stocks also fell, with Nvidia and Advanced Micro Devices closing 3.3% and 4.8% lower, respectively. On that day, the blue-chip index closed 168 points down with Apple, Boeing, and 3M contributing the most losses, while during the trading session it briefly fell more than 250 points. The S&P 500 dropped 0.9% while Nasdaq Composite index fell 1.4%.
The driver of the S&P500 the last month was the financial sector which added total gains of 6.7% at its stocks, followed by health care with 2.5% increase. On the other hand, technology stocks and utilities declined almost 5.0% each, followed by and consumer staples stocks of losses more than 4.0%.
Read the full index markets monthly report on JFD Research.