Major Indexes Secure 4th-Straight Win

The S&P 500 reclaimed the psychologically-significant 4,500 level

Managing Editor
Jul 13, 2023 at 4:27 PM
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Stocks stayed hot today thanks to more upbeat inflation data, and a perfect week for Wall Street is now in sight. The Dow secured a four-day win streak, despite giving back a chunk of gains in the afternoon. The S&P 500 and Nasdaq closed at their highest level since April 2022 to score four-day win streaks of their own, the former reclaiming the 4,500 level along the way. As earnings season kicks off, the Cboe Volatility Index (VIX) fell to its lowest level of the month so far.

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

  • Call traders doubled their money with resurgent DraftKings stock.
  • Blue-chip bank giant red-hot ahead of earnings.
  • Plus, a bank stock to watch; DIS gets Bob bounce; and Delta earnings action. 

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NYSE Nasdaq 0713

5 Things to Know Today

  1. Inflation may be cooling, but the U.S. budget deficit isn't. (MarketWatch)
  2. A Liquid Death initial public offering (IPO) just got a huge backer. (Forbes)
  3. Call traders optimistic ahead of Goldman Sachs earnings
  4. Bob Iger is back, and its a boon for Walt Disney stock.
  5. Delta Air Lines stock rules the skies once more

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Commodities Join Equities Higher

Oil prices joined equities higher today, for black gold's third-straight win and highest settlement since April. August-dated oil tacked on $1.14 cents, or 1.5%, to settle at $76.89 per barrel.

Gold prices also climbed, encouraged by the producer price index (PPI) reading today, especially in the wake of yesterday's soft consumer price index (CPI) reading. August-dated gold added $2.10 or 0.1%, to close at $1,963.80 an ounce.

 

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