Big Tech Boosts S&P 500, Nasdaq To Record Closes

The Dow finished 104 points higher today, after the Federal Reserve released minutes from its mid-June meeting in which it held short-term interest rates near zero, but admitted that the rise in inflation came as a surprise this year. As has been the case often this year, Big Tech gained as bond yields fell, leading both the S&P 500 and Nasdaq to nab record closes. Elsewhere, the Cboe Volatility Index (VIX) -- Wall Street's"fear gauge" -- surged midday for the second-straight day before pulling back. 

The Dow Jones Average (DJI - 34,681.79) added 104.4 points or 0.3% for the day. Of the 30 Dow components, Apple (AAPL) saw the biggest jump, adding 1.8%, while Boeing (BA) fell to the bottom, shedding 1.8%.

Meanwhile, the S&P 500 Index (SPX - 4,358.13) gained 14.6 points or 0.3% on the day, and the Nasdaq Composite (IXIC - 14,665.06) eked out a win with a 1.4 point gain, or 0.1%, for the day. 

Lastly, the Cboe Volatility Index (VIX - 16.20) lost 0.2 points or 1.5%. 

closing indexes july 7

Unusual Options Activity July 7

nyse and nasdaq july 7

OPEC+ STANDSTILL CONTINUES TO AFFECT OIL

Oil prices declined for the second-straight day as the extended meeting postponement of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) gives way to hesitance concerning output, while investors fear members will abandon restrictions. August-dated crude lost $1.17, or 1.6%, to close at $72.20 a barrel. 

Gold futures rose for the fifth-straight day and finished above the $1,800 level for the first time in three weeks. August-dated gold added $8, or 0.4%, to settle at $1,802.10 an ounce. 

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