Stock Market Update: S&P 500 Ends Lower on Tech Slowdown
Market Recap
The S&P 500 closed lower on Monday as big tech companies paused ahead of significant market events this week. Key factors included updates on inflation and statements from Federal Reserve officials.
Fed Focus
Atlanta Federal Reserve Bank President Raphael Bostic emphasized the need for caution in rate decisions, citing a strong economy. Fed governor Lisa Cook echoed this sentiment, advocating for careful rate adjustments. The market awaits further remarks from Fed officials later this week.
Inflation Insights
The upcoming release of inflation data, the Fed’s preferred gauge, is set for this Friday. Traders are increasingly anticipating a rate cut in June, reflecting shifting market expectations.
Corporate Updates
Boeing saw a rise in stock value following management changes, while United Airlines faced regulatory scrutiny. Super Micro Computer gained momentum, but chip stocks faced challenges due to China’s restrictions on Intel and AMD chips.
Tech Giants in Trouble
Apple, Meta Platforms, and Alphabet experienced declines as EU regulators launched investigations into potential antitrust violations. Disney received a boost from Barclays, while DWAC surged ahead of its Nasdaq debut.
Energy Sector Movement
Energy stocks benefited from rising oil prices driven by global supply concerns. APA Corporation, Exxon Mobil, and Coterra Energy were among the notable gainers in this sector.
Market Outlook
The market continues to react to a mix of corporate, economic, and geopolitical developments, shaping investor sentiment and driving stock movements.
