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Today’s Market Summary
Today, U.S. stocks continued to fluctuate at elevated levels, driven by Fed Chair Powell’s ongoing wait and see stance, eased geopolitical tensions between Israel and Iran, and strength in tech stocks.
By index: the Dow slipped as industrials and cyclical stocks weighed on performance; the S&P 500 remained flat, reflecting a cautious mood; and the Nasdaq edged higher, supported by AI-related names like Nvidia and AMD. Semiconductors continued to lead, standing out as a bright spot in the market. Capital flows clearly favored growth stocks, with investors remaining highly sensitive to policy shifts and inflation data.

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Our Institutions believe the key focus now shifts to this Friday’s core PCE inflation data. A lower than expected reading could further boost expectations for a July rate cut and help push indexes toward record highs. On the other hand, if inflation proves sticky, market volatility could rise. In the short term, it’s recommended to center trading strategies around tech and semiconductor stocks.