Stocks surged with S&P 500 closing above 5500, Dow and Nasdaq up triple digits.

From Nasdaq: 2024-07-02 16:25:33

Stocks surged on Tuesday with the Dow and Nasdaq up, and the S&P 500 closing above 5,500. Fed Chair Powell’s remarks on inflation were noted. Treasury yields cooled, Nvidia shares dropped, and Apple hit a new record high. Analysts discussed cloud and solar stocks, construction, streaming mergers, and recapped 2024 so far.

In FDA news, Eli Lilly’s Alzheimer’s drug donanemab was approved, while the FTC blocked Tempur Sealy’s acquisition of Mattress Firm. Two construction stocks were downgraded, a streaming giant saw M&A interest, and the S&P 500 midpoint was discussed.

Oil prices fell despite impending Hurricane Beryl and the upcoming U.S. holiday. August WTI crude dropped 0.7% to $82.81 per barrel. Gold futures dipped slightly following Powell’s inflation remarks, with August gold at $2,335.30 an ounce.



Read more at Nasdaq: S&P 500 Conquers 5500; Nasdaq, Dow Add Triple Digits