Tech Stocks Down; Energy Sees Gains

Rick Winters, vice president at Adviser Investments, has the market analysis for Wednesday, June 27. All markets closed down despite gains early in the day. Large-cap technology and internet stocksA financial instrument giving the holder a proportion of the ownership and earnings of a company. saw losses; however, energy stocks gained with crude prices up 3.2%. That’s more than $72 per barrel and the highest level seen since 2014. Winters explains that we have been in a 10% high-to-low trading range over the last six months or so—largely the result of investor uncertainty related to trade policy, inflation and interest rates. In terms of economic indicators, both durable goods and pending home sales were down 0.6% in May.