The Dow also extended its daily win streak to five
Interest rate hopes continued to inject optimism into the market, with traders now 93.3% certain a cut will come in September, according to the CME FedWatch tool. A swarm of bank and blue-chip earnings also helped the Dow to a fresh record high, fifth-straight daily win, and best day since June 2023. The S&P 500 and Nasdaq eked out a third consecutive day in the black, with the latter a capturing a record high of its own.
Continue reading for more on today's market, including:
- Analyst praises online retail stock.
- How to capitalize on earnings season.
- Plus, 2 stocks for your portfolio; skip this software stock; and what market uncertainty could bring.
5 Things to Know Today
- Secret Service reportedly boosted former President Donald Trump's security due to Iran threats ahead of this weekend's assassination attempt. (MarketWatch)
- With consumers unable to make their car payments, repossessions saw a 23% year-over-year jump. (Bloomberg)
- A pair of stock picks to boost your portfolio.
- Keep this software stock sidelined for now.
- How market uncertainty can impact Wall Street.
Oil Dragged for 3rd-Straight Session
Oil prices suffered a third-straight drop on the back of rising worries around demand in China. August-dated West Intermediate (WTI) crude shed $1.15, or 1.4%, to settle at $80.76 per barrel.
Interest rate buzz continued to capture commodity traders, weighing on the U.S. dollar and Treasury yields. August-dated gold futures added $38.90, or 1.6% to settle at a record $2,467.80 an ounce for the day.