10 Top-Traded US Stocks for Friday (6/18)
US stocks fell on Friday, with the $Dow Jones Industrial Average(.DJI.US$ posting its worst weekly loss since October, as traders worried the Federal Reserve could start raising rates sooner than expected.
Economic comeback plays led the market losses
St. Louis Federal Reserve President Jim Bullard said on Friday that the first rate increase from the central bank would likely come in 2022. His comments came after the Fed on Wednesday added two rate hikes to its 2023 forecast and increased its inflation projection for the year, putting pressure on stock prices.
Pockets of the market most sensitive to the economic rebound led the sell-off this week. The S&P 500 energy sector and industrials dropped 5.2% and 3.8%, respectively, for the week. Financials and materials meanwhile, lost more than 6% each. These groups had been market leaders this year on the back of the economic reopening.
Friday also coincided with the quarterly "quadruple witching" in which options and futures on indexes and equities expire. This event may have contributed to more volatile trading during the session.
10 top-traded US stocks for Friday
Star tech stocks continued to take most positions of the rank in terms of turnover.
$NVIDIA(NVDA.US$, the top-traded stock on Friday, closed 0.1% lower even after Bank of America raised its price target on the stock to $900 per share from $800 per share. The bank said, "rising AI adoption, expanding use-cases across cloud, enterprise, edge, telco can help NVDA double its content and triple its data center sales over the next few years."
$Amazon(AMZN.US$ was flat even with a huge turnover.
In fact, tech stocks were all weak on Friday, except for $Tesla(TSLA.US$ which gained 1.09% during the session, looking to add to a two-day win streak.
$AMC Entertainment(AMC.US$, the stock under WSB's spotlight, experienced high-volume trading as well. The stock dropped 2.42%. The author of "Too Big To Fail.", Andrew Ross Sorkin, commented on meme stocks, saying that meme stocks' investors have an idea that they are not doing fundamental investing, rather, they are demonstrating that they can push up the price of a stock. He himself would not buy these stocks because there's a lot of misinformation and irrationality associated with the stocks.
$Apple(AAPL.US$, $Microsoft(MSFT.US$, $Facebook Inc(FB.US$, $Alphabet-C(GOOG.US$ and $JPMorgan(JPM.US$ followed to fill the Top 10 rank.
Read more:
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo Official Account
Chasing hot stocks
43KFollowers
13Following
36KVisitors
Follow