Dow Logs Longest Win Streak Since 2017; SPX, Nasdaq Cool

The blue-chip index is on its best win streak since 2017

Managing Editor
Jul 20, 2023 at 4:25 PM
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Make it nine in a row for the Dow, its longest winning streak since 2017, after a triple-digit pop today. The S&P 500 and Nasdaq remained on the sidelines though, with the latter notching its worst single-session drop since March 9 on the heels of Netflix's (NFLX) earnings. The small-cap Russell 2000 (RUT) joined the indexes with a rare dud, falling back below the 2,000 level.

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

  • 2 airline stocks blasted by options traders.
  • So why did Tesla stock really drop today?
  • Plus, more on Netflix; a COST 'buy' signal; and a breakdown of our recent winners.

Summary 0720

NYSE Nasdaq 0720

5 Things to Know Today

  1. Home sales are falling as listings continue to evaporate. (MarketWatch)
  2. China is turning to the private sector more and more. (Reuters)
  3. Netflix stock finally took a breather.
  4. Signal says buy calls on this retail stock.
  5. New podcast: the mind of a trader on a hot streak.

Earnings 0720

UVOL 0720

Gold Takes a Step Back

Oil prices rose today,  but gains were capped amid ongoing demand concerns. August-dated oil added 28 cents, or 0.4%, to settle at $75.63 per barrel.

Gold cooled off with tech today, as bond yields and the U.S. snapped back. August-dated gold shed $9.90, or 0.5%, to settle at $1,970.90 an ounce on the day.

 

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