• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Dow rises 200 points to close at a record
Editor's Pick

Dow rises 200 points to close at a record

by July 17, 2024
by July 17, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The Dow Jones Industrial Average advanced on Monday as investors bet the unsuccessful assassination attempt on former President Donald Trump will lead to big gains for the Republican presidential candidate and the GOP at the polls in November.

Friendlier fiscal policies ahead were seen as further spurring a broadening out of the bull market that started to take shape last week. Small-cap shares and banks climbed on Monday.

The blue-chip Dow jumped 210.82 points, or 0.53%, to 40,211.72. The S&P 500 added 0.28% to 5,631.22. Both touched new intraday highs in the session, while the former also saw a record close. The Nasdaq Composite rose 0.4% to 18,472.57.

“The good news is that former President Trump was not injured more than the ear, that he was not killed,” said Sam Stovall, chief investment strategist at CFRA Research, on CNBC’s “Worldwide Exchange.” “As a result, I think the market will continue on its momentum ways.”

The Republican National Convention commenced Monday in Milwaukee, Wisconsin, with Trump leading President Joe Biden in national polls.

Humana and UnitedHealth Group each rose in the session. The insurers could benefit from fewer cost pressures coming from a Republican administration.

The Russell 2000 gained 1.8%, touching its highest level since 2022 and recording a fourth straight positive day. Goldman Sachs said a second Trump term could help small caps outperform, citing their strong record after his victory in 2016.

Goldman Sachs shares added 2.6% after posting earnings that exceeded analysts’ expectations. The SPDR S&P Bank ETF (KBE) and SPDR S&P Regional Banking ETF (KRE) both added more than 2%.

Goldman is one of the more than 40 S&P 500 companies reporting second-quarter earnings this week as the new season ramps up. This list also includes household names such as Bank of America, United Airlines and Netflix.

Beyond earnings, investors parsed comments from Federal Reserve Chair Jerome Powell, who said the central bank wouldn’t wait until inflation was at its goal of 2% before lowering interest rates. He also said a hard landing scenario was unlikely for the economy.

“We are getting very close to the point of the Fed … seeing the data that they need to see to be comfortable cutting rates,” said Bill Merz, head of capital market research at U.S. Bank Asset Management. “That’s what is the first and foremost thing in the psyche of the market.”

This post appeared first on NBC NEWS
You Might Also Like
  • Shredded cheese recall over listeria concerns in 15 states affects food-maker Sargento
  • Walgreens CEO Roz Brewer steps down after more than two years in the role
  • Some Juul users are receiving thousands of dollars as part of a $300M class action settlement
  • Nintendo Switch 2 retail preorder to begin April 24 following tariff delays
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Top 5 moments from Night 2 at the Republican National Convention
next post
Traders see the odds of a Fed rate cut by September at 100%

You may also like

Restaurants fight back against the FTC crackdown on ‘junk fees’...

August 26, 2024

Spirit Airlines to pay up to $8.25 million in class...

August 26, 2023

Egg prices are falling, with a dozen now less than...

March 14, 2025

Pending home sales drop to a record low, even worse...

December 3, 2023

Telit Cinterion Expands 5G LPWA Module Portfolio with New Modules...

February 27, 2023

Workers earning up to $58K a year could soon become...

April 26, 2024

ESPN hopes to reach more casual sports fans with Disney+...

December 5, 2024

Frontier Airlines does away with change fees in budget airline...

May 19, 2024

Macy’s turnaround hinges on revamping some stores and closing others....

March 7, 2025

Peloton recalls 2.2 million exercise bikes over safety hazard

May 15, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,321 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Chrysler and Dodge parent recalling 318,000...

    March 26, 2024

    Tesla’s Chinese rival Nio launches a...

    May 17, 2024

    FTC bans fake online reviews, inflated...

    August 15, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here