Wall Street closes higher with record highs, tech stocks lead gains, bond yields drop

From CNBC: 2024-07-06 10:53:36

Wall Street closed higher for the holiday-shortened trading week, with the Dow up under 1%. The S&P 500 and Nasdaq set record highs, climbing nearly 2% and 3.5%, respectively, as the second quarter strength continued. Tech stocks, including Apple and Broadcom, led the gains, while energy, health care, and industrials lagged. Bond yields dropped Friday after the June jobs report supported the case for Fed rate cuts. Earnings season kicks off soon, with Wells Fargo reporting this Friday. Key economic data includes the June CPI and PPI, providing insights into consumer and wholesale inflation trends. Wells Fargo and Morgan Stanley are key bank earnings to watch for NII guidance and share repurchase plans. Monday to Thursday have no major events, while Friday brings the PPI and earnings from Wells Fargo, JPMorgan Chase, and Citigroup. Subscription to CNBC’s Investing Club provides trade alerts from Jim Cramer with trade execution delays for transparency.



Read more at CNBC:: Wells Fargo (WFC) earnings; CPI, PPI inflation data key in week ahead