Stocks Soar as Dow, S&P 500 Score New Records

All three major indexes secured sizable weekly wins

Patrick Martin

Managing Editor

Jul 12, 2024 at 4:21 PM

Stocks surged into the weekend, with the Dow scoring a record high and closing above 40,000 for just the second time ever. Not to be outdone, the S&P 500 turned in a record high of its own, while the tech-heavy Nasdaq bounced back from yesterday's selloff to post a triple-digit gain. All three major indexes secured comfortable weekly wins, the Dow's best in over two months and Nasdaq's sixth straight, as investors cheered signs of a soft landing for the broader economy.

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

How did the AT&T breach impact options traders?
Dow stock holding key support level.
Plus, in defense of long strangles; JPMorgan's earnings report; and FAST calls pop.

closing summary july 12

nyse nasdaq july 12

5 Things to Know Today

Corn prices have dug out of a bear market, temporarily. (MarketWatch)
Bitcoin exchange-traded funds (ETFs) had quite a week. (Bloomberg)
Long strangles could be key to this earnings season.
JPMorgan stock sits out today's blue-chip rally.
Call traders are feasting on FAST today.

Earnings July 12

Oil Prices Run Out of Weekly Steam

Oil prices fell today, helping black gold to its first weekly loss in five weeks. August-dated West Intermediate (WTI) crude shed 41 cents, or 0.5%, to settle at $82.21 per barrel. For the week, the loss came out to 1.1%.

Gold prices cooled today, but held the $2,400 level. August-dated gold futures lost 0.1% to settle at $2,419.10 an ounce for the day. For the week, the safe-haven asset added 1%.

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