The S&P 500 and Nasdaq Composite retreated into the red on Thursday after reaching new intraday highs. The decline was caused by profit-taking in mega-cap technology and AI stocks, with Nvidia and Broadcom both falling. Danaher also experienced a rough day, falling more than 3% for the second time in five sessions. This drop was possibly linked to cautious comments from Sartorius, a German bioprocessing company. Despite this, Danaher has consistently outperformed its peers and should not be punished for their faults.
Looking ahead, there isn’t much news to expect in the next 24 hours. CarMax will report before the opening bell on Friday, and there will also be a preliminary reading of the June US Global Manufacturing and Services PMI from S&P, as well as May Existing Home Sales data. Subscribers to the CNBC Investing Club with Jim Cramer receive trade alerts before Jim makes any trades, with specific waiting periods in place to ensure transparency and compliance.
Overall, the market experienced some setbacks on Thursday, but investors should remain cautious and monitor upcoming developments in the trading session. Subscribe to the CNBC Investing Club with Jim Cramer for timely updates and alerts on market trends and investment opportunities.
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https://www.cnbc.com/2024/06/20/nvidia-gives-up-gains-plus-whats-behind-another-rough-day-for-danaher.html