Market Report Jun 01 2023
The stock market ended May on a downbeat note, as uncertainties around the debt ceiling deal and apprehensions about economic growth and Federal Reserve policies seemed to have some influence on market sentiment.
A slight uplift occurred midway into the session as the market rebounded from session lows. This was probably triggered by some dovish remarks from a few Federal Reserve officials, suggesting a potential break in the cycle of rate increases was on the horizon.
However, the session concluded with a 0.6% decline for the S&P 500 for the day. Mega-cap stocks also witnessed a downturn. VIX was up to near 18.
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