Article: Wall Street languid as “meme stock” frenzy hogs spotlight

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Wall Street languid as “meme stock” frenzy hogs spotlight

Stephen Culp, 08 June 2021

Wall Street stocks wavered near the starting line on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders kept the rally of so-called meme stocks alive. All three major U.S. stock indexes were little changed, with the S&P (.SPX) and the Dow (.DJI) hovering within 1% of their record closing highs.

The tech-laded Nasdaq (.IXIC) fared best, with Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O) providing the biggest boost. The CBOE volatility index (.VIX), a measure of investor anxiety, touched its lowest level in over a year.

Wall Street stocks wavered near the starting line on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders kept the rally of so-called meme stocks alive.

All three major U.S. stock indexes were little changed, with the S&P (.SPX) and the Dow (.DJI) hovering within 1% of their record closing highs.

The tech-laded Nasdaq (.IXIC) fared best, with Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O) providing the biggest boost.

The CBOE volatility index (.VIX), a measure of investor anxiety, touched its lowest level in over a year.

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