Benzinga - by Akanksha Bakshi, Benzinga Editor.
On Tuesday, June 11th, the U.S. stock markets closed mixed. The S&P 500 and Nasdaq reached record closing highs for the second consecutive day, driven by a surge of over 7% in Apple shares. Investors eagerly anticipated upcoming consumer price data and a Federal Reserve policy announcement.
Apple Inc.’s (NASDAQ:AAPL) shares hit new all-time highs after DA Davidson upgraded the stock from Neutral to Buy and raised the price target from $200 to $230, citing AI advancements announced at WWDC 2024 as drivers for an upcoming iPhone upgrade cycle.
According to economic data, the NFIB Small Business Optimism Index increased to 90.5 in May, reaching a five-month high from April’s 89.7 and exceeding market expectations of 89.8.
Most S&P 500 sectors ended lower, with utilities, financial, and industrial stocks seeing the largest declines, while information technology and communication services stocks closed higher.
The Dow Jones Industrial Average was down 0.31% and closed at 38,747.42. The S&P 500 rose 0.27%, ending the day at 5,375.32, and the Nasdaq Composite gained 0.88%, finishing the session at 17,343.84.
Asian Markets Today
- On Wednesday, Japan’s Nikkei 225 declined 0.60% ending the session at 38,894.50, led by losses in the Finance & Investment, Steel and Marine Transport sectors.
- Australia’s S&P/ASX 200 declined 0.51%, ending the day at 7,715.50, led by losses in the Utilities, IT, and Industrials sectors.
- India’s Nifty 50 gained 0.25% to close at 23,322.95, and the Nifty 500 closed higher by 0.50% at 21,960.95.
- China’s Shanghai Composite was up 0.31%, ending the session at 3,037.47, and the Shenzhen CSI rose 0.04%, closing at 3,544.12.
- Hong Kong’s Hang Seng ended the session lower by 1.31% at 17,937.84.
- The European STOXX 50 index gained 0.47%.
- Germany’s DAX rose 0.43%.
- France’s CAC was up 0.30%.
- U.K.’s FTSE 100 traded higher by 0.62%.
- Crude Oil WTI was trading higher by 1.07% at $78.75/bbl, and Brent was up 0.92% at $82.67 bbl.
- Natural Gas declined 1,92% to $3.069.
- Gold was trading higher by 0.17% at $2,330.95, Silver rose 0.88% to $29.485, and Copper was up 0.06% to $4.5127.
Dow futures were up 0.09%, S&P 500 futures rose 0.11%, and Nasdaq 100 Futures gained 0.12%.
Forex at 06:00 AM ET
The U.S. Dollar Index declined 0.59% to 105.18, USD/JPY was up 0.16% at 157.32, and USD/AUD declined 0.15% to 1.5118.
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