Dow Nears 35K, on Best Heater Since March 2021

The S&P 500 and Nasdaq logged their highest close since April 2022, too

Managing Editor
Jul 18, 2023 at 4:24 PM
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The Dow simply cannot be stopped. The blue-chip index wrapped up its seventh-straight win today, its longest winning streak since March 2021. For the first time since April 2022, the psychologically significant 35,000 level is now within reach, thanks to an outsized move from tech giant Microsoft (MSFT) today. Elsewhere, the Russell 2000 (RUT) is near 2,000 for the first time since February, while the S&P 500 and Nasdaq closed at their highest levels since April 2022. 

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

  • Keep an eye on this retail stock.
  • Call traders getting Chipotle's "extra guac." 
  • Plus, bank earnings roundup; a defense stock in focus; and RKLB breaking out.

Summary 0718

NYSE Nasdaq 0718

5 Things to Know Today

  1. Will the U.S. and China start to collaborate on climate change? (CNBC)
  2. Goldman Sachs is walking back its "recession" worries. (MarketWatch)
  3. How did these banks perform in the earnings confessional?
  4. Options bulls eye more gains from Lockheed Martin stock.
  5. Rocket Lab stock looks ripe for a short squeeze

Earnings 0718

UVOL 0718

Gold Nabs 6-Week High as Dollar, Yields Retreat

Oil prices snapped back today under the expectation that global supplies will tighten. August-dated oil added $1.60, or 2.2%, to settle at $75.75 per barrel.

Gold climbed in reaction to the falling U.S. dollar and Treasury yields. August-dated gold rose $24.40, or 1.3% to close at $1,980.80 an ounce on the day -- its highest level in six weeks.

 

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