Inflation and Interest Rates Erode Wall Street's Confidence Record-setting Wall Street Powered by Turbulent Techs

Stocks set several records during June and July, and tech powerhouse Nvidia kept pushing techs higher as our trading session ended Jul 31, 2024. Nvidia passed a market value of $3 trillion early in June on the shoulders of its artificial intelligence technology. July was much choppier, as techs gave...

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Bibliographic Details
Published in:American Fastener Journal 2024-09, Vol.40 (5), p.52-53
Main Author: Crabtree, Margot
Format: Article
Language:English
Subjects:
Artificial intelligence
Automobile dealers
Earnings per share
Interest rates
Market value
Retail sales
Sales
Service stations
Online Access:Get full text
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Summary:Stocks set several records during June and July, and tech powerhouse Nvidia kept pushing techs higher as our trading session ended Jul 31, 2024. Nvidia passed a market value of $3 trillion early in June on the shoulders of its artificial intelligence technology. July was much choppier, as techs gave up some of their earlier gains. The Commerce Department said that retail sales in April dropped 0.2%; in May they rose by 0.3%, compared to a 0.6% increase in March and 0.9% growth in February. Retail sales were steady in June from the month before. Sales at car dealerships and gas stations pressured overall results; otherwise, June sales increased by 0.8%. Dealerships suffered a several-day outage following cyberattacks on a software provider.
ISSN:1064-3834