MARKET WRAP

The S&P 500 hit its 30th all-time high of the year today, rallying 0.77%. The Nasdaq also closed at a record, gaining 0.95%

Consumer Discretionary, Technology, and Industrials were the top-performing sectors, up 1.92%, 1.64% and 1.16%, respectively.

Utilities was the biggest lower, down 1.02%.

Autodesk was the best-performing S&P stock, up 6.5% on news activist fund Starboard Value has taken a stake in the company.

Broadcom continued its rally, up 5.41%, on AI optimism. That stock is now up 22% since reporting earnings last Wednesday.

MRKT MATRIX: June 17, 2024

Today’s Top Stories:

• S&P 500 rallies 1% to fresh record high (CNBC)

• S&P 500 Races Toward 30th All-Time High of 2024 (Bloomberg)

• The S&P 500 Gets New Targets. Investors, Be on Your Guard. (Barron’s)

• Investors Fear Long Stretch of Calm in Markets Can’t Last (WSJ)

• Nvidia to get 20% weighting and billions in investor demand, while Apple demoted in major tech fund (CNBC)

• Global defence groups hiring at fastest rate in decades amid record orders (FT)

• Trading Indicator With 100% Win Rate Signals Sell Long Bonds Now (Bloomberg)

• Corporate Tax Rate Spurs Political Fight With More Than $1 Trillion at Stake (WSJ)

Today’s MRKT Call is Presented by CME Group

Live Market Analysis: New $SPY Highs & Bond Volatility

Guy Adami and Danny Moses break down the top market headlines and bring you stock market trade ideas for Monday, June 17th.

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Today’s On The Tape is Presented by CME Group, iConnections and SoFi

3 Things To Watch In The Stock Market This Week

Guy Adami is flying solo this morning and bringing you three things he is watching this week in markets. Get a quick primer on what to look out for, from more S&P 500 price target upgrades to crucial manufacturing data set to release. 

After the break, Guy Adami and Kaitlin Malin, COO of iConnections, are joined by Jim Shannon, founding partner and CEO of Indus Capital, to discuss global market trends and investment strategies. Jim shares his extensive career background, from his time at Soros Fund Management to founding Indus Capital. The conversation covers the current state of the Japanese and Asian markets, focusing on Japan's corporate governance reforms and the influence of macroeconomic factors such as the yen and interest rates. Jim elaborates on Indus Capital's long-short equity approach, team structure, and regional focus. The discussion also touches on the geopolitical risks concerning China and Taiwan, the impact of upcoming U.S. elections on global markets, and emerging investment opportunities in countries like Korea and India.

Learn More About Indus Capital: IndusCap.com

Reach out to Jim: [email protected]

Learn More about iConnections & Its Partnership with MFA

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