The S&P 500 and Nasdaq closed marginally lower to end last week, weighed down by a decline in Nvidia shares for a second straight day, which dragged down the technology sector. Technology the biggest loser among the 11 major S&P 500 sectors, down 0.84%, while communication services led the gain.
Amazon will invest 10 billion euros in Germany as demand for its cloud services and retail goods in Europe’s biggest economy keeps growing, the US technology and retail company said.
The last session saw Amazon’s stock fall 0.5%. The Stochastic-RSI is giving a negative signal.
Support: 179.6467 | Resistance: 187.2067
British inflation returned to its 2% target for the first time in nearly three years in May, but strong underlying price pressures all but rule out a pre-election interest rate cut. While Prime Minister Rishi Sunak welcomed the fall in headline inflation in May, it has likely come too late to turn around his fortunes in British elections on July 4.
The Pound-Dollar pair gained a moderate 0.1% in the last session.
The Stochastic indicator is currently in the negative zone.
Support: 1.2645 | Resistance: 1.2753
Nvidia has become the world’s most valuable company following a staggering rally in its shares, underlining the outsized role investors expect artificial intelligence to play in the global economy over coming years.
Cryptocurrency exchange Uphold has sent a notice to its European users informing them that the platform will end support for six popular stablecoins from July 1. Uphold says it is delisting the stablecoins to align with the European Union’s Markets in Crypto-Assets Regulation.
Shares of GameStop tumbled after CEO Ryan Cohen told investors that the videogame retailer plans to operate a smaller network of stores, but did not provide details on what it intends to do with its cash pile.
