The Dow added 210 points for the day
In what feels like the blink of an eye, the first half of 2021 has already come to a close, with all three major indexes locking in substantial growth so far this year. The Dow and Nasdaq have each added over 12% during the last six months, while the S&P 500 logged a roughly 14% return for the first two quarters -- its best first half of the year since 2019. All three major indexes also posted sizable quarterly wins -- their fifth straight --but only the S&P 500 and Nasdaq were able to secure monthly wins in June.
For today, markets were mixed as investors weighed upbeat employment and home sales data against bubbling fears of a global Covid-19 resurgence. The Dow settled with a 210-point pop, while the S&P 500 just barely eked out its fifth-straight record high. The Nasdaq, meanwhile, turned slightly lower.
Continue reading for more on today's market, including:
- Signals say bet on a bounce from Tractor Supply stock.
- Micron stock snagged a bull note before earnings tonight.
- Plus, a casino stock enjoying eased travel restrictions; why this drug stock could be a buy; and BBBY's earnings beat.
The Dow Jones Average (DJI - 34,502.51) gained 210.2 points, or 0.6% for the day. Of the 30 Dow components, Walmart (WMT) saw the biggest jump, adding 2.7%, while Intel (INTC) fell to the bottom, shedding 1.1%. For the month, the index lost 0.1%, but gained 4.6% during the quarter and 12.7% for the first half of the year.
Meanwhile, the S&P 500 Index (SPX - 4,297.50) rose 5.70 points, or 0.1% on the day. It rose 2.2% for the month, 8.2% for the quarter, and 14.4% in the past six months. The Nasdaq Composite (IXIC - 14,503.95) lost 24.4 points, or 0.2% for the day. It saw a 5.5% rise in June, a 9.5% pop for the second quarter, and a 12.6% win for the first half of the year.
Lastly, the Cboe Volatility Index (VIX - 15.83) added 0.2 point, or 1.2%. For the month it lost 5.6%, for the quarter it dropped 18.4%, and for the year so far it's off 30.4%.
- Biometric screening company Clear Secure (YOU) just debuted on Wall Street, trading at $38.55 per share, which is higher than the stock's initial public offering (IPO) price of $31 per share. (CNBC)
- Royal Caribbean Group (RCL) said it will require proof of vaccination from travelers departing from all of its ports, excluding Florida, in accordance with the state's mandate. (MarketWatch)
- Easing travel restrictions are giving Las Vegas Sands stock a big boost.
- Why BMY could be a smart potential growth play.
- The meme stock scaling the Nasdaq after an earnings beat-and-raise.
Decline in U.S. Crude Inventories Pushes Oil Prices Higher
Oil prices continued to move higher, buoyed by a sixth-straight weekly dip in U.S. crude inventories, as investors look ahead toward the Organization of the Petroleum Exporting Countries and their allies (OPEC+) decision on further easing output curbs next month. As a result, August-dated crude gained 49 cents, or 0.7%, to settle at $73.47 per barrel.
Gold prices rose for the day and current quarter, though the precious metal suffered a loss for the first half of the year, as well as its worst month in over four years. August-dated gold added $7.90, or 0.5% for the day, to settle at $1,771.60 an ounce.