Stock Market Overview
Tue, Jul 2nd, 2024
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Stocks Post Moderate Gains as Powell Says Inflation is Receding
Barchart - Tue Jul 2, 3:31PM CDT
The S&P 500 Index ($SPX) (SPY) Tuesday closed up +0.62%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.41%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.01%.
Stock indexes Tuesday finished moderately higher. Stocks found support Tuesday from lower bond yields after Fed Chair Powell said prices now show signs of resuming their disinflation trend and the Fed can "take its time" with interest rate cuts with a strong economy and a job market. Also, a +10% surge in Tesla on Tuesday and a rally in chip stocks lifted the broader market.
Stocks had some negative carryover Tuesday from weakness in European stocks. European stocks fell Tuesday on hawkish comments from ECB President Lagarde, who said Monday night that the ECB doesn’t yet have sufficient evidence that inflation threats have passed, bolstering expectations that the ECB will delay further interest rate cuts. European stocks also retreated as political uncertainty in France remains high ahead o... Read more
Italian landowner is arrested after an Indian worker bled to death in accident with farm equipment
AP - 18 minutes ago
Police have arrested an Italian farm owner after one of his workers, an undocumented laborer from India, bled to death after his arm was cut off by farm equipment
Tesla sales fall for second straight quarter despite price cuts, but decline not as bad as expected
AP - 1 hour ago
Tesla’s global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company’s products and electric vehicles overall...
Small businesses could find filing for bankruptcy more difficult as government program expires
AP - 1 hour ago
A type of bankruptcy protection filing that made it easier for small businesses to seek relief has expired, which will complicate filing for small businesses with more than $3 million in debt
US new-vehicle sales barely rose in the second quarter as buyers balked at still-high prices
AP - 1 hour ago
U.S. new-vehicle sales rose only slightly in the second quarter, despite larger discounts and slightly lower prices
Is This Copper Mining Stock a Buy for Its Fat Dividend?
Barchart - 1 hour ago
Southern Copper has a higher dividend yield compared to other copper mining companies. However, its valuations are also on the higher side, making a closer examination of the risk-reward necessary for...
Black farmers' association calls for Tractor Supply CEO's resignation after company cuts DEI efforts
AP - 1 hour ago
The National Black Farmers Association is calling on Tractor Supply’s president and CEO to step down, days after the rural retailer announced that it would drop most of its corporate diversity and climate...
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