Market Roundup: Despite Closing Down, Stocks Recovered Most of Last Week’s Losses

Published: July 1, 2019, 8:14 p.m.

Indices started the week with mixed moves on Monday, as the Dow Jones Industrial Average ended the session slightly higher while the S&P 500 Index and NASDAQ Composite shed some points. Chip makers in the Technology sector dipped after the Commerce Department banned five more Chinese companies from buying U.S. made parts. Indices ended the session in red territory on Tuesday, with Technology brands leading the downswing. Meanwhile, the Conference Board’s Consumer Confidence Index fell from 131.3 in May to 121.5 in June. Midweek the markets’ moves were mixed as the Dow and S&P 500 closed in the red zone while the Tech-heavy NASDAQ posted gains. Several Energy sector stocks rallied as West Texas Intermediate crude climbed $1.41 to settle at $59.24 a barrel. Stocks continued to trade with mixed moves on Thursday. The S&P 500 and NASDAQ posted gains ahead of the G-20 summit. Friday kicked off with indices moving to the plus side, but peaked midday and lost some ground in the afternoon. However, U.S. stocks managed to rally to a positive outcome for the day. The Dow was up 0.3%, the S&P was up 0.6%, and the NASDAQ was up by 0.5%. The rally was led by Industrials and Financials. In one of the final economic releases for the week, the Department of Commerce reported that the Personal Consumption Expenditures (PCE) price index was up 1.5% from a year ago, coming in below the Federal Reserve’s 2% target inflation rate.