The Dow roared to a triple-digit close in the last minutes today
The major indexes all closed higher today, with the Dow digging out of the red and sprinting across the finish line for a triple-digit win at the close. The S&P 500 and Nasdaq both finished in the black as well, boosted by impressive earnings from a handful of Big Tech stocks, especially Apple (AAPL), which closed with a 10.5% gain.
However, dampening the broader market's mood was the stalled stimulus package in Congress as unemployment benefits expire at the end of the day today, as well as July consumer sentiment that dipped with the resurgence in COVID-19. Through it all, the Dow finished with a weekly loss, while the S&P 500 and Nasdaq both locked up weekly wins.
Continue reading for more on today's market, including:
- An intriguing bull signal flashed for streaming giant Netflix today.
- Analysts and traders veered toward toward this video game stock today.
- Plus, the sports gambling stock rising; tech giant sees volatility crush; GOOGL reports its first revenue drop.
The Dow Jones Industrial Average (DJI - 26,428.32) gained 114.7 points, or 0.4% for the day. For the week, the benchmark closed down 0.2%, but added 2.3% for the month. Apple (AAPL) rose to the top of the 10 gainers on the Dow, finishing 10.5% higher, while Caterpillar (CAT) fell to the bottom, losing 2.8%.
Meanwhile, the S&P 500 Index (SPX - 3,271.12) added 24.9 points, or 0.8% for the day. It gained 1.7% for the week and 5.5% for the month. The Nasdaq Composite (IXIC - 10,745.28) rose 157.5 points, or 1.5% for today's session, 3.6% for the week, and 6.7% for the month.
The Cboe Volatility Index (VIX - 24.46) lost 0.3 point, or 1.2%, for the day, and shed 5.3% for the week and 19.6% for July.
- The U.S. is planning to take action against the TikTok parent Bytedance, as tensions over cybersecurity escalate. (Reuters)
- As investors pay close attention to the U.S. economic recovery, what's happening with consumer spending could provide indicators. (Marketwatch)
- Analysts are unanimously bullish on sports and gambling app DraftKings.
- Unpacking a slew of positive news for Apple stock today.
- GOOGL falls after reporting its first-ever revenue drop.
Data courtesy of Trade-Alert
Gold, Oil End Month Higher
Oil futures ended higher after a volatile session of trading amid news that U.S. output in May fell by the largest number on record. September-dated crude rose 35 cents, or 0.9%, to end at $40.27 a barrel. For the month, oil posted a 2.5% gain for its third straight monthly win.
Gold futures posted impressive gains for the day, week, and month, as hesitant sentiment surrounding the economy grew and made the safe-haven asset appeal skyrocket. Gold for December, now the most-active contract, rose $19.10, or 1%, to settle at $1,985.90 an ounce. For the week, gold closed up around 4.8%, while finishing up around 10.3% for the month -- it's biggest monthly gain since 2016.