Dow Keeps Win Streak Running With 11th-Straight Gain

Investors had manufacturing and services data to unpack

Digital Content Manager
Jul 24, 2023 at 4:25 PM
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The Dow is still showing no sign of slowing down, after closing up 183 points today to log an 11th-straight win -- its longest such streak since February 2017. Both the S&P 500 and Nasdaq scored solid gains of their own, as energy stocks such as Chevron (CVX) rallied. Traders also unpacked better-than-expected manufacturing data for July, though levels remain in contraction territory, while services data missed expectations.

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

  • Don't sweat this cosmetics stock's pullback.
  • Preliminary Q2 results bolster Chevron stock.
  • Plus, e-commerce name seeing bull notes; unpacking Domino's earnings; and why bulls aren't going anywhere.

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5 Things to Know Today

  1. Internal Revenue Service (IRS) officers will no longer make unannounced visits to homes or businesses to collect unpaid balances amid safety concerns. (CNBC)
  2. Warner Bros.' (WBD) "Barbie” saw $155 million in North American ticket sales, while Comcast’s (CMSA) “Oppenheimer” attracted $80.5 million. (MarketWatch)
  3. Analyst: E-commerce stock is near inflection point.
  4. How Domino's Pizza stock brushed off a revenue miss.
  5. Bulls won't be shaken until technical backdrop weakens.

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Oil Jumps on Market Deficit Expectations

Oil prices started the week off strong, closing at a three-month high amid expectations the market will see a deficit before the end of 2023. September-dated oil rose $1.67, or 2.2%, to settle at $78.74 per barrel.

A stronger U.S. dollar pressured gold to its lowest close since July 17, as Wall Street eyed this week's Federal Reserve meeting. August-dated gold fell $4.40, or 0.2%, to settle at $1,962.20 an ounce.

 

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