Here Are Tuesday’s Best Wall Street Analyst Research Calls: Adobe, American Airlines, Broadcom, First Solar, Meta Platforms, Shopify, Space-X, Ventas, Waste Managment, and More Pre-Market Stock Futures: Futures are trading mixed, with the Nasdaq getting hammered after a…
ngbuster start to the first full trading week of the third quarter. All of the major indices finished the day higher, with chip stocks once again leading the way
When the dust settled at the close, the Nasdaq finished the day up 1.12% at 26,121, while the S&P 500 posted a strong Monday closing at 7,537, up 0.72%. The small-cap heavy Russell 2000 also posted a winning session, closing up 0.61% at 3,014. The Dow Jones Industrial Average initially traded lower but turned around at noon, finishing at 53,056, up 0.30%, closing over 53,000 for the first time.
The combination of momentum tech trading, falling oil prices, and the Federal Reserve’s pressure to raise rates subsiding as inflation fears diminish all contributed to the strong start to the week. Treasury Bonds: Yields were down across the lion’s share of the Treasury curve as buyers continue to embrace the no interest rate hike chant, as oil prices continue to tumble. Inflationary risk from worldwide geopolitical issues is also falling, another encouraging sign for the bond market.