First session of the week wraps mixed; NASDAQ and S&P set new records

Market session seemed to have continued the record setting run from Friday of last week as two out of three benchmark equities set new record levels for the first day of this week.
CENTRAL, Hong Kong - July 13, 2021 - PRLog -- This run stemmed from the investors' consideration for the Biden administration's new infrastructure deal, plus the Fed's outlook suggesting that the central bank would keep the inflation at bay as well as the interest hikes for the next two years.

Traders are also looking forward to the economic data which is going to be released in a few days.

Investors are currently focusing on the report to be released Friday this week regarding the June jobs report. Economists expect that gains for the payroll would increase to 700,000 in June with the unemployment rate pulling back down to 5.7%. This is a direct improvement anticipated against May jobs report that only recorded payroll gains of 559,000 plus a jobless rate of 5.8%.

There's also the quarterly earnings report that investors are looking forward to in a few weeks, as more companies suggest that earnings have improved due to economic reopening and vaccinations. Guidance of these companies are all pointing to a positive outlook that exceeds previous estimates.

Major cryptocurrencies are steadying at current rates after China's tightening policy choking out the value in them. Bitcoin and ethereum both moved higher today, recovering some of the losses after sliding last week.

The Dow Jones Industrial Average dropped by more than 150 points or 0.44%, pulling it away from record levels. S&P 500 increased by 1.23% as well as NASDAQ Composite Index which gained by more than 100 points or almost 1%, with both benchmark hitting new highs.

The 10 Year Treasury yield decreased by 5.8 basis points ending at 1.4780%.

Monday's stock market movements are the following:

- The Dow Jones Industrial Average down by 0.44% or 150.57 points and at 34,283.27.
- S&P 500 Index increased by 0.23% or 9.91 points and currently at 4,290.61.
- NASDAQ Composite Index advanced to 14,500.51 after gaining 140.12 points or 0.98%.
- Yield on 10 Year Treasury now at 1.4780%.
- Gold up by $0.90 or 0.05% and now at $1,778.70 an ounce.
- Crude down by $1.20 or 1.62% and closed at $72.85 per barrel.

For more latest news in US Stock Market you may also visit us at Advisory Access Limited through our website or contact us via email.

Advisory Access Limited
Posted By:*** Email Verified
Tags:Advisory Access Limited
Location:Central - Hong Kong Island - Hong Kong
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Advisory Access Limited PRs
Trending News
Most Viewed
Top Daily News

Like PRLog?
Click to Share