The NASDAQ index is starting the 2H of the year with a solid gain after rising by 18.13% in the first half of 2024. The index is closing near highs for the day up 0.84% and at a new record closing level.
Both the Dow industrial average and the S&P also rose to start the new month, the new quarter and second half of the year.
The final numbers are showing:
- Dow Industrial Average average rose 50.66 points or 0.13% at 39169.51
- S&P index rose 14.60 points or 0.27% at 5475.09
- NASDAQ index closed at a record level up 146.70 points or 0.83% at 17879.30.
The small-cap Russell 2000 did not fair as well as it reacted to higher interest rates. That index was down -17.62 points or -0.86% at 2030.06.
Tesla will report Q2 delivery estimates tomorrow morning with expectations of 433K to 436K. Tesla shares surged $11.98 or 6.05% at $209.86 ahead of that report. Tesla shares fell -20.36% in the first half of 2024.
Some other winners today included:
- NioAADR (NIO): +6.61%
- Snowflake (SNOW): +5.67%
- Grayscale Bitcoin (GBTC): +5.36%
- Deutsche Bank AG (DB): +4.23%
- Bitcoin Futures (BMC): +3.98%
- Rivian Automotive (RIVN): +3.65%
- Merck&Co (MRK): +3.30%
- Apple (AAPL): +2.90%
- Boeing (BA): +2.70%
- Goldman Sachs (GS): +2.49%
- Crowd Strike Holdings (CRWD): +2.34%
- Broadcom (AVGO): +2.20%
- Microsoft (MSFT): +2.19%
- Palantir (PLTR): +2.15%
- Amazon.com (AMZN): +2.04%
Stocks rose despite gains in the yields:
- 2-year yield 4.759%, +4.0 basis points.
- 5-year yield 4.429%, +9.9 basis points.
- 10 year yield 4.473%, +13.0 basis points.
- 30-year yield 4.636%, +13.4 basis points.
This article was written by Greg Michalowski at www.forexlive.com.
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