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Market overview 2024-06-24


Monday's trading session on the US stock market demonstrates quite evidently the formed "skew" in the main indices, formed by the largest technology companies. It was enough for one of them - Nvidia Company to demonstrate a significant decline (about 13 percent for 3 trading sessions), it caused a decline in the technological Nasdaq within one percentage point and gave an overflow of funds into the more fundamental Energy and Pharmaceutical sectors, which supported the other indices, and the Dow Jones blue chip index brought it into the positive trading zone. Reduced buy-back activity prescribed to companies ahead of and during quarterly reporting may also affect buyers in the near term, especially in the Technology sector, and selling by participants wishing to lock in profits in this undoubtedly overbought sector may be more noticeable.