European markets close slightly lower after snapping nine-day winning streak
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 17 2024
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Source: CNBC
- European Markets: European markets slipped after a nine-day winning streak, with Stoxx 600 closing 0.13% lower and various sectors trading negatively.
- U.S. Stocks: U.S. stocks remained steady after the Dow Jones Industrial Average touched 40,000 for the first time.
- Company Updates: Richemont reported a 1% drop in fourth-quarter sales due to weaker demand in Asia-Pacific, while Lagercrantz traded at record highs.
- Stock Analysis: BofA Securities identified 20 important Asian stocks that have shown outperformance in rising markets.
- Meme Stocks: Meme stocks like GameStop and AMC experienced volatility, with one analyst listing them in the "danger zone."
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
