S&P 500 Secures Record Close, Longest Win Streak Since January

The Nasdaq logged a sixth-straight win and record close of its own

Managing Editor
Jul 9, 2024 at 4:23 PM
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The Dow took another breather today, as it continues to consolidate around 39,000. The S&P 500 and Nasdaq scored their fifth-straight record closes -- albeit just barely -- as well as their sixth-straight win, the former's longest win streak since January.

All three indexes pared steeper gains in the afternoon, even after Fed Chair Jerome Powell told the Senate Banking Committee that “reducing policy restraint too late or too little could unduly weaken economic activity and employment.” Powell will speak in front of the House Financial Services Committee tomorrow. 

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

  • Signal says buy puts on this software stock.
  • Analyst: Jumia could lead e-commerce in Africa.
  • Plus, Netflix outperforms; Intel stock stays hot; and more trouble for SOFI.

closing summary july9

nyse nasdaq july9

5 Things to Know Today 

  1. Chicago Fed President Austan Goolsbee makes the rate cut case. (MarketWatch)
  2. Chip packaging research gets a boost from the Biden administration. (Bloomberg)
  3. Netflix shares are ready to run at $700.
  4. When will analysts come around on Intel stock?
  5. Fintech stock with no momentum.

There were no earnings of note today

UVOL July9

Gold Flat Ahead of Inflation Data

Crude prices fell again today, as the damage assessment from tropical storm Beryl looks to be milder than expected to the energy grid. August-dated West Intermediate (WTI) crude lost 92 cents, or 1.1%, to settle at $81.41 per barrel.

Gold prices were mostly flat today, holding steady ahead of the inflation reports later this week. August-dated gold added 0.2% to settle at $2,367.80 an ounce for the day.

 

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