Stock Market Update & Analysis for June 26th

Stock Market Update for June 26th

Global Markets

Canada’s Main Stock Index Drops Despite on Oil & Gold Prices: Canada’s main stock index, the S&P/TSX Composite Index, experienced a decline as oil and gold prices went lower.

Nasdaq Rises on Nvidia and Chip Stocks’ Momentum: The Nasdaq Composite Index saw gains as Nvidia’s stock price increased, helping to lift other semiconductor and technology stocks. Nvidia’s resurgence played a significant role in restoring confidence in the broader technology sector, which had been under pressure in recent sessions.

European Shares Boosted by Technology and Mining Stocks: In Europe, gains in technology and mining stocks supported a rise in major stock indices. Investors showed renewed interest in these sectors, likely driven by favorable economic data or corporate earnings reports.

Japan’s Nikkei Climbs on Technology and Chip Stocks: Japan’s Nikkei 225 Index climbed over 1%, reaching its highest closing level in two and a half months. The rise was fueled by strong investor demand for technology stocks and chip-related heavyweights, reflecting optimism in these industries.

Gold Prices Fall as U.S. Dollar Strengthens: Gold prices declined as the U.S. dollar strengthened. A stronger dollar makes gold more expensive for holders of other currencies, typically leading to lower demand and falling prices for the precious metal.

Corporate Stock News

Apple upgraded by Rosenblatt Securities to a “Buy” and raised the price target from $196 to $260.

Volkswagen Group will invest up to $5 billion in Rivian for a joint venture

Lufthansa will add an environmental charge to fares

Aston Martin debuts its limited edition Valiant sportscar

Pembina Pipeline Corp reaches a final investment decision on the Cedar LNG project,

WestJet receives a second strike notice from its union

FedEx forecasts higher fiscal 2025 profit

Microsoft valuation raised at Bank of America, maintaining its “Buy” rating and raised the price target from $210 to $220.

Blackstone acquires British hotel operator Village Hotels

Goldman Sachs appoints a new head of its Australian and New Zealand Equities division

GM’s robotaxi unit Cruise names a new CEO

Albemarle plans more auctions for lithium

BlackRock retains board seats at six funds

Boeing faces FAA directives for 757-200 airplanes

Doordash’s interest in acquiring Deliveroo ended over valuation disagreements

DuPont, 3M, and Honeywell are sued by Connecticut firefighters

Entegris signs a memorandum with the Biden administration for facility funding

KKR acquires a portfolio of multifamily real estate assets, Nasdaq and EEX cancel their Nordic power trading business deal

Norfolk Southern is criticized by the NTSB for its conduct in an Ohio derailment investigation

Nvidia’s shares surge after a three-session decline, while Citigroup maintained a “Buy” rating on Nvidia, raising the price target from $126 to $150, while Cantor Fitzgerald maintained an “Overweight” rating, increasing the price target from $140 to $175

Rivian’s shares rise after a $5 billion Volkswagen investment

Southwest Airlines lowers its second-quarter revenue forecast

Vista Outdoor and CSG receive regulatory approval for a business sale, and Bosch is considering a bid for Whirlpool

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