Dow Records Best Week since May as S&P 500 Dips on Nvidia Troubles: Latest Updates

Money | June 21, 2024, 2:43 p.m.

On Friday, the S&P 500 experienced a slight decrease as Nvidia's shares retreated for a second consecutive day, causing the market index to fall by 0.16% to 5,464.62. The Nasdaq Composite also dipped by 0.18% to settle at 17,689.36, while the Dow Jones Industrial Average increased by 0.04% to 39,150.33. As technology stocks remain in focus, Nvidia's stock declined by 3.2% after hitting an all-time high and finishing lower on Thursday. Despite this, the chipmaker has seen a 155% increase in its stock value this year, briefly surpassing Microsoft as the most valuable public company earlier in the week. While the S&P 500 and Nasdaq showed mixed results for the week, the Dow had its best performance since May with a 1.45% increase. Some concerns over an overheated market have started to surface, prompting experts to advise caution and consider taking profits off the table. Trading volume spiked due to the triple witching expiration date, marking the highest level since mid-March.