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Dow Logs Best Day Since June 2023; S&P 500 Nabs Record

Oil suffered a third-consecutive daily loss

Managing Editor
Jul 16, 2024 at 4:29 PM
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Interest rate hopes continued to inject optimism into the market, with traders now 93.3% certain a cut will come in September, according to the CME FedWatch tool. A swarm of bank and blue-chip earnings also helped the Dow to a fresh record high, fifth-straight daily win, and best day since June 2023. The S&P 500 and Nasdaq eked out a third consecutive day in the black, with the latter a capturing a record high of its own.

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

  • Analyst praises online retail stock.
  • How to capitalize on earnings season.
  • Plus, 2 stocks for your portfolio; skip this software stock; and what market uncertainty could bring.

Closing Index Summary July 152024

NYSE and Nasdaq Stat July 162024

5 Things to Know Today 

  1. Secret Service reportedly boosted former President Donald Trump's security due to Iran threats ahead of this weekend's assassination attempt. (MarketWatch)
  2. With consumers unable to make their car payments, repossessions saw a 23% year-over-year jump. (Bloomberg)
  3. A pair of stock picks to boost your portfolio.
  4. Keep this software stock sidelined for now.
  5. How market uncertainty can impact Wall Street.

Earnings July 162024

Unusual OPtions Activity July 162024

Oil Dragged for 3rd-Straight Session

Oil prices suffered a third-straight drop on the back of rising worries around demand in China. August-dated West Intermediate (WTI) crude shed $1.15, or 1.4%, to settle at $80.76 per barrel.

Interest rate buzz continued to capture commodity traders, weighing on the U.S. dollar and Treasury yields. August-dated gold futures added $38.90, or 1.6% to settle at a record $2,467.80 an ounce for the day.

 

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