News

This week (the week the Federal Reserve announced interest rate cuts), the S&P 500 index fell by 0.8%, the Dow Jones Industrial Average rose by 1%, the Nasdaq fell by 1.7%, the semiconductor index fell by 3.6%, and the Philadelphia Bank Index rose by 0.5%. The S&P 500 index initially closed down 1.1%, the technology sector initially closed down 2.9%, the energy sector fell about 1%, and the consumer staples sector rose by 0.9%. The Nasdaq 100 index initially closed down 1.9%. Among the constituent stocks, Broadcom initially closed down 11.3%, nuclear power stock Constellation Energy fell 6.7%, Micron Technology fell 6.8%, Synopsys fell 5.1%, AMD, Intel, and Applied Materials all fell over 4%, while Tesla rose 2.5%, Linden Plc. rose 3.2%, and Lululemon rose 9.4%. Caterpillar initially closed down 4.1%, NVIDIA fell 3.3%, Goldman Sachs fell 2.5%, leading the decline among Dow components, while Boeing rose 1.8%, Coca-Cola rose 2%, and McDonald's rose 2.3%