Stocks continued their downward trend on Monday, with the Dow Jones Industrial Average dropping 349 points (0.91%) and the S&P 500 losing 12 points (0.23%). The Dow has now decreased by 11.3% over the past month, while the S&P has fallen by 12.3%. Despite the overall decline, the Nasdaq saw a slight increase of 15 points (0.1%), but remains down 19% for the year.
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Why Lumentum Holdings Stock Bounced 5% Higher Today
Lumentum Holdings saw its stock soar over 5% on Monday, driven by bullish analyst notes including an upgrade to outperform with a $70 price target by Northland analyst Tim Savageaux. Stifel also provided positive feedback on the company's prospects in the optical field, dispelling the notion of optical transceivers being obsolete. With increasing data transmission demands, Lumentum appears well-positioned to capitalize on these trends, making it a compelling company to monitor for potential growth. Full...
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