The S&P 500 and Nasdaq logged their third-straight win today
Stocks kicked off the 4th of July holiday with plenty to celebrate. While the Dow finished marginally in the red, the S&P 500 and Nasdaq both logged their third straight win and scored record closes. Amid a low volume session, June's latest jobs data indicated a softening labor market, which has renewed investors' rate cut hopes.
Wall Street was also unfazed by a 48.8% reading of service sector activity produced by the Institute for Supply Management, the lowest figure since the pandemic and well short of May's 53.8% number.
Continue reading for more on today's market, including:
- TSLA gets delivery number boost.
- History says target these Big Tech stocks right now.
- Plus, Q3 underperformers; macro momentum builds; and a solar sector roundup.
5 Things to Know Today
- U.S. factory orders for May fell for the first time in three months. (MarketWatch)
- The 4th of July holiday is poised to shatter more travel records. (Reuters)
- These 25 stocks tend to struggle in Q3
- 2024 is in the sweet spot for investors right now.
- Are these beaten-down solar stocks ready to rally?
There were no earnings of note today
There was no retrieved UVOL data today with the shortened trading session.
Gold Soars, Logs Best Day Since March
The low-volume trading session impacted oil prices today, as did a drop in crude inventories. August-dated West Intermediate (WTI) crude shed 25 cents, or 0.3%, to settle at $82.56 per barrel.
Gold prices popped today as the U.S. dollar pulled back. August-dated gold added $39.50, or 1.7%, at $2,372.90 an ounce, the largest percentage increase from an active contract since March 1.