The Dow cleared 53,000 for the first time ever while the RUT is back above 3,000
Wall Street started the first full week of July with wins across the board. The Dow nabbed its second-straight record close, clearing 53,000 after trading on both sides of the aisle throughout the day. The S&P 500 and Nasdaq also finished higher, the tech-heavy latter adding 288 points, with semiconductor stocks driving early-week gains. Elsewhere, the small-cap Russell 2000 Index (RUT) closed back above 3,000 after a one-day breach, while the Cboe Volatility Index (VIX) clocked its lowest close since June 4.
Continue reading for more on today's market, including:
5 Things to Know Today
- President Donald Trumpweighs in on the Folarin Balogun red card. (CNBC)
- Fed Governor Chris Waller defends the use of forward guidance. (Barron's)
- These semiconductor stalwarts had a day.
- Analyst: T-Mobile stock positioned well among peers.
- Breaking down SpaceX options activity.
There are no earnings to report today.
Oil Shrugs Off OPEC Output Increase
Oil prices finished lower even after OPEC+ agreed to a fifth-straight monthly increase in output targets. August-dated West Texas Intermediate (WTI) shed 13 cents, or 0.2% to finish at $68.55/barrel.
Gold futures rose to two week highs, though a firmer dollar is keeping gains in check. August-dated gold futures added 1%, to settle at $4,167.50/oz for the session.