Investors turned to more defensive stocks like utility companies and other dividend-paying shares, which led the S&P 500 Index to slight gains on Monday. Technology shares led Tuesday’s downswing as the Dow Jones Industrial Average and the S&P 500 saw their biggest daily declines in more than a month. In economic news, the Conference Board showed consumer sentiment increased in June despite an expected dip from analysts. By mid-week, Financial and Technology shares rebounded to lead the rally as the NASDAQ Composite posted its biggest jump since November. Thursday saw Technology stumble again, dragging down the major indices. Indices closed Friday’s session with mixed moves, as the Dow and S&P 500 tacked on some points while the NASDAQ ended trading fractionally in the red zone. In economic news, personal income growth ticked up in May. Consumer income increased 0.4% last month from a downwardly revised 0.3% gain in April. The result exceeded the forecast for a 0.1% uptick. Elsewhere, a final reading of The University of Michigan Consumer Sentiment Survey for June showed a two-point dip to 95.1, slightly better than the preliminary reading from earlier this month.
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