Market Report Jul 20 2023

Wednesday's financial markets we mixed yet concluded with minor gains, perhaps showcasing sustained resistance to a market downturn.
The Nasdaq navigated uncertainly around its equilibrium point. It trailed its fellow indices due to underperformance from key mega-cap entities and investor trepidation ahead of post-trading earnings announcements from big dogs like TSLA and NFLX.

The S&P 500 and the Dow Jones Industrial Average reached 15-month peaks on Wednesday's trading session, contrasting with the Nasdaq 100 that retraced from an initial high not seen in the past 18-months. This might have resulted from the unwinding of long positions and repositioning in anticipation of forthcoming Q2 earnings.

Mixed look for the US sectors and MEA (Main European Averages).
VIX added 3.46% to its tally bringing it closer to 14.

Javid Shaik

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