7th Heaven for S&P 500, Nasdaq as Stocks Soar Into CPI

The S&P 500 is now on its best win streak since October

Managing Editor
Jul 10, 2024 at 4:22 PM
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The S&P 500 and Nasdaq closed at session highs today to make it seven straight wins, with both indexes also logging their sixth and seventh-straight record close, respectively. The former is now on its best win streak since October, while the tech-heavy latter got a boost from resurgent chip stocks.

The Dow followed suit with a triple-digit pop of its own, surging into the close at session highs for its best single-day gain since May 31. All eyes now turn to tomorrow morning, when June's consumer price index (CPI) will shape price action to end the week. 

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

  • Buy the dip on this aluminum stock.
  • 2024 stock pick has a runway for rest of 2024.
  • Plus, CVNA upgraded; SPOT cooling off; and Walmart joins the AI rat race.

closing summary july10

nyse nasdaq July10

5 Things to Know Today 

  1. Is a summer vacation worth mounds of future credit card debt? (MarketWatch)
  2. The commercial property crash could be a buying opportunity. (Bloomberg)
  3. Carvana's turnaround story gains another fan.
  4. Analyst helps Spotify stock cool off.
  5. Walmart stock gets the AI bump.

There were no earnings of note today

UVOL July10

Oil Prices Bounce Back

Crude prices snapped a three-day skid today, gathering strength from a weekly decline in U.S. crude inventories for the second week running.  August-dated West Intermediate (WTI) crude added 69 cents, or 0.9%, to settle at $82.10 per barrel.

Gold prices rose in anticipation of potentially encouraging CPI data tomorrow. August-dated gold added 0.7% to settle at $2,384.80 an ounce for the day.

 

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