Stocks soared into the Fourth of July holiday, with the S&P 500 and Nasdaq nabbing record closes. A comforting jobs report -- especially considering the lackluster private payrolls report yesterday -- fostered renewed optimism about a resilient U.S. economy. All three major indexes nabbed holiday-shortened weekly wins, while the small-cap Russell 3000 (RUT) broke into positive year-to-date territory. Meanwhile, the Cboe Volatility Index (VIX) finished lower, and the 10-year Treasury yield remained elevated at 4.3%.
Continue reading for more on today's market, including:
- Signal: Target these 25 stocks in July.
- Nvidia stock entering historically bullish quarter.
- Plus, an oil stock to avoid; AMZN's enticing chart; and your weekly recap.
5 Things to Know Today
- Tech company boosted initial public offering (IPO) market in June. (CNBC)
- BRICS is bolstering its coffers to increase its governing influence. (Reuters)
- Oil stock barreling toward seasonal headwinds.
- A lot to like about this Amazon.com stock chart.
- A strong finish to the second quarter.
There were no notable earnings reports today.
Weekly Gains for Oil, Gold
Oil prices fell today ahead of the Organization of the Petroleum Exporting Countries (OPEC+) and allies meeting on Sunday, with investors expecting output cuts. August-dated West Texas Intermediate (WTI) crude dropped 84 cents, or 1.3%, to settle at $68.43 a barrel. For the week, oil eked out a gain.
Gold prices fell in response to the upbeat jobs report. August-dated gold futures shed 0.7% to settle at $3,336. For the week, the safe-haven asset gained more than 2%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
