Stocks finished higher with tech leading, concerns over economy losing momentum

From Nasdaq: 2024-07-01 18:21:36

Stock indexes posted moderate gains on Monday with the S&P 500 up +0.27%, Dow Jones up +0.13%, and Nasdaq up +0.66%. Concerns over the economy losing momentum were fueled by a unexpected decline in the Jun ISM manufacturing index and May construction spending. European stocks rose after French elections reduced concerns of extreme policies. Interest rates rose as the 10-year T-note yield increased to 4.481%. Cryptocurrency-linked stocks and Tesla saw strong gains, while cruise line operators and homebuilders faced losses. Earnings reports from Avid Bioservices, MSC Industrial Direct, Radius Recycling, and Simulations Plus were released.



Read more at Nasdaq: Stocks Finish Higher on Strength in Mega-Cap Tech Stocks