Rick Winters, vice president at Adviser Investments, has the market analysis for Friday, June 14. All major U.S. market indexes declined slightly on mounting geopolitical concerns. The Dow Jones Industrial Average, S&P 500 and NASDAQ Composite fell 0.1%, 0.2% and 0.5%, respectively. Adding to tensions from last week’s tanker attacks in the Persian Gulf, the International Energy Agency released its 2020 global oil projections, forecasting that supply will exceed demand. Closer to home, the National Retail Federation reported a 0.5% monthly retail-sales increase, adding even more to businesses’ coffers after April’s upwardly revised 0.3% gain.
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