Stocks kicked off the 4th of July holiday with plenty to celebrate. While the Dow finished marginally in the red, the S&P 500 and Nasdaq both logged their third straight win and scored record closes. Amid a low volume session, June’s latest jobs data indicated a softening labor market, which has renewed investors’ rate cut hopes. Wall Street was also unfazed by a 48.8% reading of service sector activity produced by the Institute for Supply Management, the lowest figure since the pandemic and well short of May’s 53.8% number.
There were no earnings of note todayThere was no retrieved UVOL data today with the shortened trading session.
GOLD SOARS, LOGS BEST DAY SINCE MARCH
The low-volume trading session impacted oil prices today, as did a drop in crude inventories. August-dated West Intermediate (WTI) crude shed 25 cents, or 0.3%, to settle at $82.56 per barrel.Gold prices popped today as the U.S. dollar pulled back. August-dated gold added $39.50, or 1.7%, at $2,372.90 an ounce, the largest percentage increase from an active contract since March 1. More By This Author:S&P 500 Conquers 5500; Nasdaq, Dow Add Triple Digits
Stocks Chop As Wall Street Unpacks Powell Comments
Stocks Eke Out Solid Start to July, Holiday-Shortened Week
