Friday, 30 July 2021: US equity markets advanced, shrugging off a weaker-than-expected rise in second-quarter GDP
Jul 29, 2021 ·
7m 5s
US equity markets advanced, shrugging off a weaker-than-expected rise in second-quarter gross domestic product (GDP) as investors instead focussed on largely upbeat corporate earnings releases - Dow up +154-points or...
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US equity markets advanced, shrugging off a weaker-than-expected rise in second-quarter gross domestic product (GDP) as investors instead focussed on largely upbeat corporate earnings releases - Dow up +154-points or +0.44% at 35,084.53, hitting a fresh record intraday high of 35,171.52. The broader S&P500 rose +0.42% to 4,419.15, also touching a record intra-day high (4,429.97). Materials (up +1.08%) and Energy (+1.07%) both gained over >1% to lead nine of the eleven primary sectors higher. Tesla Inc rallied +4.69%, with a number of reasons cited the latest gains. Chief Executive Officer (CEO) Elon Musk tweeted that the electric vehicle maker is hosting an artificial intelligence day on 19 August. The Nasdaq edged +0.11% higher, with Facebook Inc (down -4.01%) and PayPal Inc (-6.23%) following their results after the closing of the previous session that were accompanied underwhelming guidance. The small capitalisation Russell 2000 rose +0.68%.
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