Stocks on a Roll, Tech Stars Leading the Show
Yesterday, the SP 500, Nasdaq 100, and Dow Jones 30 all pushed higher for the fifth straight day, proving that tech stocks are still on the comeback trail.
Championing the Wave
- Nvidia jumped 2.5%, sending its shares to the Moon.
- Tesla kept climbing, climbing 3.7%—yes, it’s still in the fast lane.
Record‑Breaking Day
The SP 500 closed at 5,590.75, a new high. Today’s opening was at 5,634, flirting with a correction and sparking a bit of market jitters. That’s partly thanks to Fed Chair Powell’s cautious words before Congress.
Watching the Numbers
Investors are keeping a close eye on this week’s Consumer Price Index (CPI). If prices keep climbing, we might see a bigger pullback—no guarantees.
Seasonal Sentiment
Both May (4.8% gain) and June (3.5% gain) have shown modest rallying, but July’s mood could be more cautious. The upcoming quarterly earnings season (starting late this month) adds another layer of suspense.
Bank Stocks Get a Boost
Bank shares rose about 3% today, gearing up for the earnings wave. Meanwhile, U.S. Treasury bonds stayed steady after a hefty $39 billion sale of 10‑year notes.
Market pricing hints at a Fed rate cut sometime in 2024—maybe September? The 10‑year Treasury yield slipped to 4.28% from 4.30% last Tuesday and 4.70% back in April, which is a good sign for the stock market.
What’s Next?
- Political uncertainties might amp up volatility.
- Fed Chairman’s “cautious” language could push markets to swing.
- Second‑quarter earnings season is just getting underway.
- The inflation report could make bonds and stocks dance.
We expect CPI to rise about 3.1% for June versus last year—slightly slower than May’s 3.3%—but the impact could still be significant.
Global Tie‑In
Japan’s Nikkei 225 nudged up 0.6%, hitting a record close. It’s up 25% this year – tops the U.S. rally thanks to AI enthusiasm. A weaker yen might boost exporters, which is a cool angle to watch.
Catch the latest updates right on your device—sign up now for real‑time insights.
