Trade Tensions Curtail Stock Gains in June

​The stock market closed June mostly in the black, with the Dow Jones Industrial Average (DJIA) the sole major index that lost ground (-0.6%). The S&P 500 closed the month at 2,718.37 for a gain of 0.5% in June, while the NASDAQ and the Russell 2000 each closed June with gains of 0.9% and 0.6%, respectively.

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Strong data in the labor market, retail sales, and consumer confidence, among other economic metrics, were partially offset by continued pressures from trade disputes. In fact, tech stocks closed their worst day in more than two months on Monday, June 25th, after reports that the US would enforce stricter rules on Chinese investments in US technology companies. Up until the 25th, the S&P 500 was up 1.8% during the month, while the DJIA and NASDAQ were up 3.4% and 0.7%, respectively. On the 25th alone, the S&P 500 lost 1.4%, the DJIA lost 1.3%, and the NASDAQ lost 2.1%.