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June 20 - The S&P 500 pulled back on Thursday after reaching the crucial 5,500-point mark for the first time ever, while investors assessed recent economic data and commentary from Federal Reserve officials to gauge the timing of interest-rate cuts this year.
“The news that we got today was just another negative weakness in the economy”, said Tom Martin, senior portfolio manager at Globalt in Atlanta. “There's still a lot of noise in there about supply and demand still isn't really that strong. But there's just been.. a willingness to sort of come back to that area where we're going to be needing energy going forward,” said Martin.
At 02:16 p.m. the Dow Jones Industrial Average , opens new tab rose 337.25 points, or 0.87%, to 39,172.11, the S&P 500 , opens new tab lost 4.97 points, or 0.09%, to 5,482.06 and the Nasdaq Composite , opens new tab lost 105.91 points, or 0.59%, to 17,756.79. Trump Media & Technology Group , opens new tab tumbled 14.18% on potential equity dilution after the U.S. Securities and Exchange Commission declared effective the company's filing for a resale of certain shares and warrants, giving it about $247 million in proceeds.
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