S&P 500 Logs Longest Win Streak Since March

The S&P 500 managed to log its first four-day win streak since March, while the blue-chip index and tech-heavy Nasdaq registered notable gains of their own. Today's wins were driven by the outperforming energy and semiconductor sectors, as well as higher-than-expected weekly jobs data. Chip stocks also led the charge, as Samsung reported a profit surge of more than 11% in South Korea. 

The Dow Jones Average (DJI -31,384.55) added 346.9 points or 1.1% for the day. Caterpillar (CAT) led the gainers, adding 4.6%. Coca-Cola (KO) paced the laggards with a 0.9% fall.

The S&P 500 Index (SPX - 3,902.62) gained 57.5 points, or 1.5% for the day. Meanwhile, the  Nasdaq Composite (IXIC - 11,621.35) rose 259.5 points, or 2.3% for the session.

Lastly, the Cboe Market Volatility Index (VIX - 26.08) shed 0.7 points or 2.4% for the day.

Closing Summary 0707

NYSE Nasdaq 0707

UVOL 0707


CRUDE SHIFTS HIGHER AFTER MULTI-DAY DROP

Oil futures managed to bounce from a multi-day drop after data showed a large increase in domestic crude inventories. A more than 14% surge in natural gas also contributed to the day's gains. August-dated crude tacked on $4.20, or 4.3%, to settle at $102.73 per barrel.

Gold futures snapped a seven-day losing streak on Thursday, which had exhibited the commodity's worst consecutive daily loss in three years. Providing support was a stable U.S. dollar. August-dated gold added $3.20, or 0.2%, to close at $1,739.70 an ounce.


More By This Author:

Stocks Firmly Higher Despite Lackluster Jobless Data
Dow Jumps Higher as Fed Vows to Beat Back Inflation
Investors Search for Clues in Economic Data, Recession Signals

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.