2024-07-04 08:13:01
The S&P 500 and Nasdaq indices closed with new records today, in a shorter session ahead of tomorrow’s US Independence Day holiday. Investors seem to have “digested” the new economic statistics quite easily.
THE S&P 500 closed with a rise of 0.51% at 5,537.02 units, while o Nasdaq ended at 18,188.30 units led by the rally of leading tech like Tesla and Nvidia. Both indices touched new all-time highs during the session and closed at record levels. This is the 33rd consecutive Nasdaq record high.
THE Dow Jones however, it lost 23.85 points or 0.06% of its value to close at 39,308 points, under pressure from UnitedHealth’s 1.7% decline.
Trading volume was limited as the session closed early and the stock market will remain closed tomorrow on Independence Day.
Data released today by ADP showed fewer-than-expected US job creation in June, while jobless claims rose more than expected last week. Also, the services sector contracted more than expected in June, according to the ISM.
The data could have worried investors about the state of the economy, but stocks found support from further declines in US 10-year Treasury yields.
Shares in Tesla rose 6.5%, posting gains for a seventh straight session – the longest period of gains through 2024. Shares in Nvidia rose 6.4%.