Perfect 10: Dow on Best Streak Since August 2017

The blue-chip index almost lost its 10-day win streak in the final minutes of today's trading

Managing Editor
Jul 21, 2023 at 4:27 PM
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Make that two perfect weeks in a row for the Dow, a torrid 10-day run that hasn't occurred since August 2017. The blue-chip index has now added nearly 6% in the last two trading weeks alone. But it wasn't without drama; the Dow dipped into negative territory with one minute left in expiration week, and finished only marginally higher. The S&P 500 and Nasdaq finished marginally higher and lower, respectively, with only the former securing a weekly win.  

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

  • 2 logistics stocks moving in opposite directions today.
  • A quick breakdown of call debit spreads.
  • Plus, GE earnings preview; more on debit spreads; and a podcast for the commute.

Summary 0721

NYSE Nasdaq 0721

5 Things to Know Today

  1. 'Barbenheimer' buzz could be a boon for movie theater stocks. (MarketWatch)
  2. Unemployment rates are plummeting across U.S. states. (Bloomberg)
  3. General Electric stock red-hot ahead of earnings.
  4. Another way options traders use directionality. 
  5. New podcast: the mind of a trader on a hot streak.

Earnings 0721

UVOL 0721

Commodities Snag Weekly Wins

Oil prices climbed, thanks to an optimistic eye on the second half of 2023. The now front-month September-dated oil added $1.42 cents, or 1.9%, to settle at $77.07 per barrel. For the week, black gold added 2.3%. 

Gold fell for the day but eked out a gain for the week. August-dated gold shed $4.30, or 0.2%, to settle at $1,966.60 an ounce on the day. For the week, the safe-haven asset added 0.1%. 

 

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