Apple Inc.
AAPL
$175.49
−3.58 (2.00%)
Stocks rise, S&P 500 hits record and U.S. 10-yr yield jumps

Published by

July 25, 2024 2:51 PM
(GMT+2)

Global stock indexes mostly climbed, due to gains in discretionary and technology shares, while U.S. Treasury yields jumped.The S&P 500 consumer discretionary index was up 1.4%.Better jobs and housing data, including a decline in new claims filed for unemployment benefits by Americans, strengthened the dollar.The Dow Jones Industrial Average fell 6.26 points, or 0.02%, to 35,603.08, the S&P 500 gained 13.59 points, or 0.30%, to 4,549.78 and the Nasdaq Composite added 94.02 points, or 0.62%, to 15,215.70.The pan-European STOXX 600 index lost 0.08% and MSCI’s gauge of stocks across the globe gained 0.06%. The dollar index rose to 93.76, up 0.17%. During the session it fell as low as 93.49. Last week it reached a one-year high of 94.56 on mounting bets the Federal Reserve will need to raise interest rates sooner than expected to quell inflation pressure.Bitcoin fell 4.68% to $62,904.60, but demand for the cryptocurrency has increased since the launch of the first U.S. bitcoin futures exchange-traded fund.Surging energy prices and tightening job markets could pressure top central banks to either raise interest rates or at least rein in the stimulus. Oil tumbled and Brent crude fell $1.21 to $84.61, after reaching a session high of $86.10, highest since October 2018. U.S. West Texas Intermediate crude settled down 92 cents to $82.50.Resources:https://www.investing.com/indices https://www.investing.com/commodities/brent-oil https://www.investing.com/currencies/us-dollar-index https://www.investing.com/crypto/bitcoin

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