Nasdaq Snaps Longest Weekly Win Streak Since 2019

Gold eked out a daily win but suffered a weekly loss

Managing Editor
Jun 23, 2023 at 4:27 PM
facebook X logo linkedin


Wall Street resumed its grim performance despite the S&P 500 and Nasdaq's brief reprieve yesterday. The Dow suffered its fifth consecutive daily drop, while all three indexes logged steep weekly losses. The Nasdaq snapped its eight-week win streak, which was its longest weekly win streak since March 2019, while the S&P let go of five weeks of gains.

Renewed recession fears and a continued lift in inflation levels jilted investor sentiment today, with most eyes focused on tech and artificial intelligence (AI) stocks. The Cboe Volatility Index (VIX) managed to eke out a daily win, though it still logged its fourth-straight weekly loss.

Continue reading for more on today's market, including:

  • Biotech stocks ripe for a short squeeze.
  • Breaking down Wall Street's lackluster trading week.
  • Plus, Cincy earnings roundup part 2; retailer riding on peer's bankruptcy; and analyst slams UAA.

new closing summary june23

new nyse nasdaq june23

5 Things to Know Today

  1. “[S]ubstantial increase in failure rates of wind turbine components” has sent Siemens Energy shares lower in Germany, after the news caused the company to trash its latest profit outlook. (CNBC)
  2. The Food and Drug Administration (FDA) has recalled several types of frozen fruit, due to possible exposure to Listeria monocytogenes, a serious bacteria that can be fatal to at-risk populations. (MarketWatch)
  3. Latest earnings roundup of Cincinnati-based stocks.
  4. Retail giant winning on Bed Bath & Beyond's bankruptcy.
  5. Activewear name suffered steep losses after downgrade.

earningsjune23

UVOL June23

Gold Logs Worst Week Since October

Oil continued its string of daily losses as commodity investors worried of a slowing economic outlook. August-dated crude shed $1.07, or 1.5%, to close at $68.44 per barrel on the day, and off 4.8% for the week.

After falling to multi-month lows and logging three consecutive losses, gold futures managed to snag a win for Friday's session as interest rate buzz settled slightly. August-dated gold added $5.90, or 0.3%, to close at $1,929.60 an ounce. For the week, gold fell 2.1%, its biggest drop since October.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI