Monday, 5 July 2021: US equity markets climbed to fresh record closing highs ahead of the holiday weekend
Jul 4, 2021 ·
4m 6s
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Description
US equity markets climbed to fresh record closing highs ahead of the holiday long weekend after a solid June non-farm payrolls report bolstered confidence in a labour market recovery -...
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US equity markets climbed to fresh record closing highs ahead of the holiday long weekend after a solid June non-farm payrolls report bolstered confidence in a labour market recovery - Dow up +153-points or +0.44% to 34,786.35, logging its first record closing high since 7 May. International Business Machines (IBM) Corp fell -4.64% after the company announced that Jim Whitehurst was stepping down from the role of president but will continue to serve an adviser to the company after his departure. Mr. Whitehurst was seen as a potential contender for the chief executive role at IBM. Boeing Co fell 1.3% after a 737 cargo plane made an emergency landing off the coast of Honolulu. The broader S&P500 logged its 7th consecutive record closing high (the longest such streak since the 8-session winning streak that ended on 17 June, 1997) and 36th of 2021, gaining +0.75% to 4,352.34. Information Technology (up +1.39%) and Consumer Discretionary (+1.08%) rose over >1% to lead nine of eleven primary sectors higher on Friday (2 July). Several sectors closed at record levels on Friday (2 July), including technology and health care. Financials and Energy both eased -0.2% to be the only primary sectors to close in the red. Tesla Inc rose +0.14% after the electric vehicle maker posted record deliveries (201,250) for the second quarter that also exceeded Wall Street estimates (207K). The Nasdaq rose +0.81% to a record settlement of 14,639.33, with Apple Inc up +1.96% and Microsoft Corp +2.23%. However, the small capitalisation Russell 2000 fell -1.01%.
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Author | Morgans Financial Limited |
Organization | Morgans Financial Limited |
Website | - |
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