Market Report Aug 23 2023

Written By Javid Shaik

In the early trading phase on Tuesday, the strong performance of mega-cap stocks buoyed the Nasdaq while curbing losses in other areas. The S&P 500 momentarily surpassed the 4,400 level but soon retreated. Further attempts to exceed this level were met with resistance, prompting heightened selling activity later in the day.

By the session end, major indices approached their daily lows. Tuesday's market rally exhibited subdued momentum, with the Dow shifting into negative territory and the Nasdaq relinquishing earlier gains.
Notably, the market breadth remains weak.

Javid Shaik
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