Nasdaq Outperforms While Dow Slips Marginally in Cautious Trading Session
US equity markets delivered a split performance on June 9, with technology stocks leading gains while traditional sectors lagged. The Nasdaq Composite climbed 0.31% to close at 19,591.24, marking its highest finish in three weeks, as investors continued favoring growth-oriented names.
Sector Highlights
Tech Standouts:
- Tesla surged 4.2% amid renewed EV optimism
- Intel gained 2.3% on semiconductor sector strength
- Alphabet and Amazon both rose over 1%
- Microsoft edged up 0.6%
Notable Decliners:
- Apple dropped 1.2% despite WWDC announcements
- Netflix fell 1.4% in continued streaming sector rotation
- Edison International plunged 8.1% to 4-year lows
Emerging Market Movers
The eVTOL sector soared following presidential policy support:
- Vertical Aerospace: +15.4%
- Joby Aviation: +13.1%
- Blade Air Mobility: +11.7%
- Archer Aviation: +10.3%
Chinese ADRs broadly advanced, with the Nasdaq Golden Dragon Index jumping 2.1%:
- Kingsoft Cloud: +9.8%
- Bilibili/Xpeng/Baidu: All up over 3%
- JD.com/NetEase: Gained 2%+
European Markets Edge Lower Amid Policy Uncertainty
All major European indices closed in negative territory:
- FTSE 100: -0.06% to 8,832.28
- CAC 40: -0.17% to 7,791.47
- DAX: -0.54% to 24,174.32
Analysts attributed the weakness to:
- Lingering concerns over ECB rate path
- Political tensions in France
- Energy sector underperformance
Commodities Rally as Risk Sentiment Improves
Energy Markets:
- WTI crude: +1.10% to $65.29/barrel
- Brent crude: +0.86% to $67.04/barrel
Precious Metals:
- Gold: +0.25% to $3,354.90/oz
- Market strategists noted the commodity gains reflected:
- Weakening dollar index
- Rebound in manufacturing PMI data
- Ongoing geopolitical premium
The mixed performance across asset classes suggests investors remain selective as they navigate evolving macroeconomic conditions and policy developments.
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