S&P 500 Snags Sixth-Straight Record Close

The Dow gained 131 points today, with stocks starting off the second half of the year strong, while the S&P 500 nabbed its sixth-straight record close, and the Nasdaq finished modestly higher, erasing its earlier losses. Upbeat jobs data sent a jolt of optimism into the market right off the bat this morning, with initial weekly jobless claims coming in at a much lower-than-expected 364,000 -- a new pandemic-era low. Meanwhile, the Institute for Supply Management's (ISM) manufacturing index reading of 60.6 for June was roughly in line with estimates, and the Congressional Budget Office added to its U.S. deficit predictions for the year, while also foreseeing economic growth. 

The Dow Jones Average (DJI - 34,633.53) gained 131 points or 0.4% for the day. Of the 30 Dow components, Nike (NKE) saw the biggest jump, adding 2.3%, while Walgreens Boots Alliance (WBA) fell to the bottom, shedding 7.4%. 

Meanwhile, the S&P 500 Index (SPX - 4,319.94) rose 22.4 points or 0.5% on the day, and the Nasdaq Composite (IXIC - 14,522.38) tacked on 18.4 points, or 0.2% for the day. 

Lastly, the Cboe Volatility Index (VIX - 15.48) lost 0.4 points or 2.2%.

Closing Index Summary July 1

NYSE and Nasdaq Stats July 1

Earnings July 1

Unusual Options Activity July 1

OIL OFF SESSION HIGHS AFTER DELAYED OPEC+ MEETING

Oil prices continued to move higher, though gains were pared after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) meeting was delayed until Friday, after a dispute between the United Arab Emirates and Saudi Arabia over a Saudi-backed request to lift production starting in August. August-dated crude gained $1.76, or 2.4%, to settle at $75.23 a barrel.  

Gold prices rose for the second straight day, bolstered as the U.S. dollar and Treasury yields weaken. August-dated gold added $5.20, or 0.3%, to settle at $1,780.70 an ounce. 

Disclaimer: Copyright © 2021 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved. This material is reproduced with the prior written consent of S&P DJI. Please ...

more
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.