Market Report Aug 15 2023

The market portrayed a mixed sentiment on Monday with no news release. The market did find some strength after the open from around the 50MA. However, it should be noted once again, transactions occurred at volume levels that are below the average.

This subdued commitment from the stock market participants does align with the typical behaviour seen during this time of year.

An increase in NVDA stock price (+7.09%) following its endorsement as a top selection stock by MS, ahead of its forthcoming earnings announcement, helped the XLK sector lead the market.

Javid Shaik

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