26 July 2024 Market Close & Major Financial Headlines: The Three Major Indexes Gapped Up At The Opening Bell, Trended Upwards, Finally Closing Sharply Higher In The Green
Summary Of the Markets Today:
- The Dow closed up 654 points or 1.64%,
- Nasdaq closed up 1.03%,
- S&P 500 closed up 1.11%,
- Gold $2,384 up $30.00,
- WTI crude oil settled at $77 down $1.50,
- 10-year U.S. Treasury 4.192 down 0.0663 points,
- USD index $104.31 down $0.040,
- Bitcoin $68,011 up $22152 or 3.37%,
- Baker Hughes Rig Count: U.S. +3 to 589 Canada +14 to 211
*Stock data, cryptocurrency, and commodity prices at the market closing.
Click here to read our current Economic Forecast – July 2024 Economic Forecast: One Recession Flag Removed But Little Indication The Economy Is Strengthening
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
Real Disposable personal income (DPI) in June 2024 grew 1.0% year-over-year (up from 0.9% last month). Real personal consumption expenditures (PCE) increased 2.6% year-over-year (little changed from last month). Inflation yardstick of the PCE price index marginally declined from 2.6% year-over-year last month to 2.5% in June 2024 – however when food and energy is excluded, inflation was unchanged at 2.6%. The bottom line in this release is that there was little change in economic growth and inflation.
Here is a summary of headlines we are reading today:
- EU Leverages Frozen Russian Assets for €1.5 Billion Aid Package to Ukraine
- Oil Rig Count Jumps as Drilling Activity Picks Up
- Technology and EVs Send China’s Power Demand Surging
- Goldman Sachs: Next President Will Have Limited Tools to Raise U.S. Oil Supply
- Stocks soar, Dow closes 650 points higher buoyed by bullish inflation report: Live updates
- Apple and Microsoft are among the ‘Magnificent Seven’ stocks set to report next week. Here’s what that means
- Dexcom shares plunge more than 40%, head for worst day on record
- Bitcoin bounces back above $67,000, while ether drops more than 7% for the week: CNBC Crypto World
- Nvidia could be on the verge of a massive technical sell-off, chart analyst warns
- Treasury yields slip after release of key inflation data for June
- Bidenomics Failure Worsens As Credit Card Delinquency Rate Hits 12-Year High
- 2-year Treasury yield ends at more than 5-month low after PCE inflation data
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.