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Today's market
May 31, 2024 at 5:30 p.m. EDT
Michael P. Reinking, CFA
Sr. Market Strategist
Last Thursday, major indices gapped higher on the heels of another blowout Nvidia quarter but reversed sharply following a stronger than expected PMI report which sent Treasury yields sharply higher. That selloff was a shot across the bow for traders in what is known as an outside reversal day where the open is above the previous day’s high and the close is below the previous day’s low. This can be a signal of at least a short-term change in trend. Friday markets bounced but the range was completely within the previous day’s range (an inside day) leaving question marks heading into the long weekend.
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In 2023, the NYSE was home to 2 of the 3 largest IPOs of the year, and a large number of transfers. We look forward to welcoming more leading companies from around the world in 2024, growing our one-of-a-kind community and setting the pace for innovation on a global scale.
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The NYSE welcomed Dr. Jill Biden, First Lady of the United States, as the keynote speaker of our annual Women’s Health Summit. Her remarks encouraged private and public sectors to invest in research and development of women’s health solutions.
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