Market Facts
On average, U.S.-listed IPOs this year—not including nontraditional methods like direct listings or special-purpose acquisition companies—werethrough Thursday’s close, according to the latest data available from Dealogic. By comparison, the S&P 500 had risen 9.5% this year through Thursday’s close. The Nasdaq Composite declined 2.3% last week, putting it down for four consecutive weeks in its longest losing streak since the week ended Aug. 23, 2019.
On this day in 1792, the ancestor of the New York Stock Exchange was born as 24 brokers gathered under a tree and signed the Buttonwood Agreement: “We the Subscribers, Brokers for the Purchase and Sale of Public Stock, do hereby solemnly promise and pledge ourselves to each other, that we will not buy or sell from this day for any person whatsoever, any kind of Public Stock at a less rate than one quarter per cent Commission.
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