Stocks Rise as Fed Keeps Low Interest Rates

Tech gave shares a boost while their chief executives answered questions

Laura McCandless

Deputy Editor

Jul 29, 2020 at 4:29 PM

The Dow closed 160 points higher, after the Federal Reserve announcement fulfilled the expectation that federal interest rates will be kept, unchanged, near zero. The S&P 500 and Nasdaq also ended the day in the black, as multiple FAANG stocks moved into recovery mode, while investors tuned in to testimonies from top chief executives in tech as they answered to a yearlong anti-practice probe. Elsewhere, the second stimulus bill still appears to be stalled in congress.

Conglomerate powerhouse dips despite positive quarterly report.
Bank stock shakes off analyst upgrade.
Plus, video concern could move higher; plenty of pessimism to be unwound for drugstore stock; and KODK receives a million-dollar loan.

The Dow Jones Industrial Average (DJI - 26,539.57) gained 160.3 points, or 0.6% for the day. JPMorgan Chase (JPM) rose to the top of the Dow, finishing 2.4% higher, while Boeing (BA) fell to the bottom, losing 2.8%.

Meanwhile, the S&P 500 Index (SPX - 3,258.44) added 40 points, or 1.2% for the day, and the Nasdaq Composite (IXIC - 10,542.94) rose 140.9 points, or 1.4% for today's session.

The Cboe Volatility Index (VIX - 24.10) lost 1.3 points, or 5.3%, for the day.

Closing Indexes Summary July 29

NYSE and Nasdaq Stats July 29

Portland, Oregon has been an extremely active area in terms of protests, with recent clashes between activists and police leading to decision-marking on the part of the state and federal governments. (Reuters)
U.S. President Donald Trump took to Twitter to announce he has rescinded an Obama-era housing regulation pertaining to low-income housing, the Affirmatively Furthering Fair Housing (AFFH) rule. (Marketwatch)
Support in place for China-based video concern.
Bull signal flashing for large drugstore chain.
Eastman Kodak stock soared to record highs.

Corporate Earnings July 29

Unusual Options Activity July 29

Data courtesy of Trade-Alert

Gold Hits Another Record High

Oil prices picked up today following a handful of headlines. U.S. crude supplies fell by 10.6 million barrels last week -- the largest decline since the end of last year -- while gasoline supplies posted an unexpected rise. September-dated crude rose 26 cents, or 0.6%, to settle at $41.27 a barrel.

Gold futures rose today to settle at yet another all-time high, continuing to rise in electronic trading after the Federal Open Market Committee (FOMC) announcement. Gold for August rose $8.80, or nearly 0.5%, to settle at $1,953.40 today.

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