All three indexes finished with their fifth-straight wins
All three major benchmarks scored record closes today, extending last week's gains to land their fifth-straight wins. The Dow closed up over 82 points, while the S&P 500 landed modestly in the black, and the Nasdaq just barely eked out a gain, as investors look toward a week packed with Big Tech earnings.
New home sales dropped to a pandemic-era low in June, falling 6.6% to an annual rate of 676,000. Meanwhile, U.S.-China tensions are heating up, after criticisms were exchanged in a diplomatic meeting between China's Vice Foreign Minister Xie Feng and Deputy Secretary of State Wendy Sherman. Investors are also eyeing a surge in bitcoin above the $40,000 level, amid Amazon's cryptocurrency rumors.
Continue reading for more on today's market, including:
The Dow Jones Average (DJI - 35,144.31) rose 82.8 points, or 0.2%. Of the 30 Dow components, Dow Inc (DOW) was at the top of the list today, adding 3.2%, while Amgen (AMGN) landed at the bottom of the list with a 1.1% drop.
Meanwhile, the S&P 500 Index (SPX - 4,422.30) gained 10.5 points, or 0.2%, and the Nasdaq Composite (IXIC - 14,840.71) tacked on 3.7 points, or 0.03%.
Lastly, the Cboe Volatility Index (VIX - 17.58) added 0.4 point, or 2.2%.
- The Olympic games have become a polarizing subject in Japan, and Tokyo could lose billions due to the lack of fans. (Marketwatch)
- Starting August 2, California will require all state employees to show proof of Covid-19 vaccination or face mandatory weekly testing. (CNBC)
- Why this gaming sector underdog could be the perfect pick for bulls.
- Million-dollar loss on a "classified" project sends aerospace stock lower.
- Behind this cybersecurity name's earnings beat.
Oil, Gold Start Week Off With Losses
Oil prices snapped a four-day win streak today, as investors continue to weigh supply/demand. September-dated crude fell 16 cents, or 0.2%, to settle at $71.91 a barrel.
Gold futures finished at their lowest price in nearly three weeks, ahead of the Federal Open Market Committee's (FOMC) two-day policy meeting, starting tomorrow. August-dated gold lost $2.60, or 0.1%, to settle at $1,799.20 an ounce -- putting it below the significant $1,800 level.