Dow Scores Record Close on Infrastructure Bill Tailwinds

The S&P 500 logged a new intraday high

Assistant Editor
Aug 10, 2021 at 4:26 PM
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The Dow rose 162 points today to a record close, riding political tailwinds after the U.S. Senate passed the $1 trillion bipartisan infrastructure package. The S&P 500 also notched a comfortable win and new intraday record high, as stocks tied to the infrastructure bill climbed.

The Nasdaq sat out today's gains though, as rising Treasury yields weighed on tech stocks. Looking ahead, investors are eagerly awaiting inflation measurements via the consumer price index and producer price index data, slated for release Wednesday and Thursday, respectively.

Continue reading for more on today's market, including:

  • Zscaler stock has room to run.
  • We break down the difference between index options and stock options.
  • Plus, one of the first meme stocks back in focus; what's haunting Casper stock; and eBay's pre-earnings performance. 

The Dow Jones Average (DJI - 35,264.67) rose 162.8 points, or 0.5% for the day. Of the 30 Dow components, Caterpillar (CAT) topped the list of winners today, adding 2.5%, while Salesforce.com (CRM) paced the laggards with a 2.4% dip.

The S&P 500 Index (SPX - 4,436.75) gained 4.4 points, or 0.1% for the day. Meanwhile, the Nasdaq Composite (IXIC - 14,788.09) shed 72.1 points, or 0.5%, for the day.

Lastly, the Cboe Volatility Index (VIX - 16.79) gained 0.07 point, or 0.4%, for the day.

closing index summary aug 10

nyse and nasdaq aug 10

  1. The infrastructure bill will send billions of dollars toward several technology infrastructure items. (CNBC)
  2. On the heels of the infrastructure bill, the U.S. dollar paced for its highest close since March. (MarketWatch)
  3. AMC Entertainment stock enjoyed a post-earnings pop.
  4. Lackluster quarterly results sunk Casper stock.
  5. What's in store for eBay stock ahead of earnings?

earnings aug 10

uvol aug 10

Oil Pares Yesterday's Losses After Infrastructure Bill Passes

Oil prices notched a win on Tuesday, paring some of yesterday's losses as increased demand for black gold overshadowed rising Covid-19 cases in Asia. In addition, the infrastructure bill is expected to boost the economy and demand for oil products. As a result, September-dated crude rose $1.81, or 2.7%, to settle at $68.29 a barrel for the day.

Gold prices, meanwhile, fell once again, as the U.S. dollar strengthened and bond yields rallied. Investors are betting on the central bank cutting its economic support, which continues to weigh on bullion, while a hike in interest rates could also reduce the precious metal's appeal. The most active contract, December-dated gold, lost $5.20, or 0.3%, to settle at $1,731.70 an ounce today.

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