.jpg)
The Nasdaq starts the second half of the year with strong gains after rising 18.13% in the first half of 2024. The index closes near its high for the day, up 0.84% and at a new record closing level.
Both the Dow Jones Industrial Average and the S&P 500 rose at the start of the new month, the new quarter, and the second half of the year.
The final numbers show:
- The Dow Industrial Average rose 50.66 points, or 0.13%, to 39,169.51.
- The Standard & Poor’s 500 Index rose 14.60 points, or 0.27%, to 5,475.09.
- The Nasdaq closed at a record high of 146.70 points, or 0.83%, at 17,879.30.
The Russell 2000 index of small-cap stocks did not perform well, reacting to higher interest rates. The index fell -17.62 points, or -0.86%, to 2030.06.
Tesla will report second-quarter delivery estimates tomorrow morning with expectations ranging from 433,000 to 436,000. Tesla shares were up $11.98, or 6.05%, at $209.86 ahead of this report. Tesla shares are down -20.36% in the first half of 2024.
Other winners today include:
- NineAADR (NIO): +6.61%
- Snowflake (SNOW): +5.67%
- Bitcoin Grayscale (GBTC): +5.36%
- Deutsche Bank AG (DB): +4.23%
- Bitcoin Futures (BMC): +3.98%
- Rivian Automotive (RIVN): +3.65%
- Merck & Co (MRK): +3.30%
- Apple (AAPL): +2.90%
- Boeing (BA): +2.70%
- Goldman Sachs (GS): +2.49%
- CrowdStrike Holdings (CRWD): +2.34%
- Broadcom (AVGO): +2.20%
- Microsoft (MSFT): +2.19%
- Palantir (PLTR): +2.15%
- Amazon.com (AMZN): +2.04%
Stocks rise despite gains in earnings:
- 2-year yield 4.759%, +4.0bps.
- 5-year yield 4.429%, +9.9bps.
- 10-year yield 4.473%, +13.0 bps.
- 30-year bond yield 4.636%, +13.4 bps.
