US stocks rise after Biden exits, Dow Jones, S&P 500, and Nasdaq up, Verizon down

From Mint: 2024-07-22 10:04:07

US stock indices rose on Monday after President Joe Biden withdrew from the presidential race and endorsed Kamala Harris. The Dow Jones, S&P 500, and Nasdaq all saw gains, with Big Tech stocks like Alphabet and Tesla rebounding. However, Verizon Communications saw a 6.1% drop in its stock after missing revenue estimates. In the bond market, the 10-year Treasury yield eased to 4.22%. Oil prices also fell after Biden’s announcement, with Brent crude futures dropping to $81.95 a barrel. Gold prices remained steady as traders considered the impact of Biden’s decision on the US election race.



Read more at Mint: Wall Street today: US stocks edge higher after Joe Biden exits presidential race