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Large- and small-cap companies diverged once again on Thursday, with the S&P 500 and Nasdaq Composite rising for the first time in four sessions while the small-cap Russell 2000 dropped to a more than two-week low, as investors fretted about recession risks and more interest-rate warnings from Federal Reserve Chair Jerome Powell. Oilfield services and other energy industry shares were particularly weak as crude oil futures dropped more than 4% because of concerns a recession may hurt fuel demand. Real estate and financial shares were also among the weakest sectors. Technology and consumer discretionary shares were among the strongest performers. Meantime, European shares closed in negative territory for the fourth consecutive session yesterday, with the Euro Stoxx 50 Index falling 0.4% to 4.304 points.
Summary for 23.06.2023
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