Market Report Jul 14 2023

Written By Javid Shaik

In a buoyant display of market performance, both the S&P 500 and Nasdaq Composite have closed near their daily highs, with the former exceeding the 4,500 threshold. While the Dow Jones Industrial Average did not share the same level of success, the overall market was supported by robust gains from mega-cap stocks, along with broad participation in the rally from numerous securities.

This optimistic trend was underpinned by the prevailing market sentiment that anticipates a soft economic landing and foresees the Federal Reserve nearing the completion of its rate-hiking cycle.
Excluding XLE, all the sectors saw strength and the same applied to the main averages in Europe. VIX gained slightly.

Javid Shaik
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