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Nasdaq Market Update 2023-05-24

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Nasdaq 100 fell -0.5% (-68.5 pts), closed at 13604 points.

Among the 150 largest-cap stocks, 39 (26%) closed higher. Only 28% of all Nasdaq stocks ended higher.

In terms of sectors, all sectors were down with losses from -0.4% to -1.8%. 4 sectors outperformed the market. The market was down -0.8%; Consumer Defensive was down -0.4%, but already the best performer, reflecting a more risk-averse market; Basic Materials was down -1.8%, the worst performer.

● Palo Alto Networks (PANW) largely rebounded 7.7% (+$14.59), closed at $204.33, the best % gain in nearly 3 months, also hit a YTD high, crossed above MA50 ($191.62). The best performer with a huge increase in volume.
360miq.com/stockinfo?code=PANW

● Analog Devices (ADI) plummeted -7.8% (-$14.69), closed at $173.23, the worst % loss in 38 months, also a 78-day low, crossed below MA20 and MA50 ($183.4, $186.31). The worst performer with a huge increase in volume.
360miq.com/stockinfo?code=ADI

● Intuit (INTU) sank -7.5% (-$33.89), closed at $415.91, the worst % loss in more than 6 months, crossed below MA20 and MA50 ($433.09, $432.57). The largest increase in volume.
360miq.com/stockinfo?code=INTU

360miq.com/market?data=NASDAQ#tab-3

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