The S&P 500 ended a back-and-forth session slightly lower on Wednesday, as the end of a negative month, a difficult quarter and the worst first half for the S&P 500 since the former president’s first term, approaches. American Richard Nixon.
The S&P 500 index closed down 0.07% at 3,818.83 points. The Dow Jones Industrial Average rose 0.27% to 31,029.31 points. The Nasdaq Composite technology index fell 0.03% to 11,177.89 points.
The three major US stock indexes fluctuated between positive and negative territories for much of the session. The Nasdaq technology index joined the S&P 500 and closed nominally lower, while the blue-chip Dow Jones registered a modest gain.
“The market struggles to find direction,” said Megan Horneman, chief investment officer at Verdence Capital Advisors in Hunt Valley, Maryland. “We’ve had disappointing data and markets are waiting for earnings season, when we’ll have more clarity” on future earnings and the economic slowdown.
With one day to go before the end of the month and the second quarter, the S&P 500 is heading for its biggest first-half percentage drop since 1970.
The Nasdaq is heading for its worst first-half performance, while the Dow Jones appears on track for its biggest January-June percentage decline since the financial crisis.
All three indices are expected to post their respective second consecutive quarterly declines. The last time this happened was in 2015.
Of the 11 major S&P 500 sectors, five lost ground on the day and energy stocks saw the biggest percentage drop, while health led the gains.
Source: CNN Brasil
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