Stock Market Winners & Losers: S&P 500 and Nasdaq Rise as Nvidia Rebounds | Homebuying Season is the Worst Since 2011 | Fast Fashion Retailer Shein Files for IPO
Nvidia's rebound lifted the S&P 500 and Nasdaq after a tech sell-off, seen as a short-term correction in a tech-focused year. Consumer confidence dipped in June, and existing-home sales hit their slowest pace since 2011 due to high mortgage rates and costs, making homeownership unaffordable. New home sales held up better, with lower future rates expected to boost the market. Fast fashion giant Shein, valued at $50 billion, filed for a public listing. Known for quick, low-cost fashion during the COVID-19 pandemic, Shein has only two permanent stores and faces supply chain issues with banned raw materials.
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