Tech Strength Keeps Stocks Above Water
It was another choppy day on Wall Street
It was another choppy trading session today, with little in the way of big-name earnings reports to digest and no economic data on the docket. However, a strong day for tech stocks kept the S&P and Nasdaq in positive territory for the whole session, while big wins for Intel (INTC), Apple (AAPL), and Microsoft (MSFT) helped pull the Dow into the green by the close. The price action could pick up tomorrow, with several blue chips set to report in the morning -- including Travelers (TRV) -- while a pair of housing market updates are also expected.
Continue reading for more on today's market, including:
Analysts rush to raise Amazon price targets before earnings.The FAANG vs. fintech battle shaping up among tech ETF traders, according to founder and CEO Bernie Schaeffer.Plus, a bull signal for one solar stock; downgraded Paysign gets blasted; and Beyond Meat options traders target a key level.The Dow Jones Industrial Average (DJI - 27,171.90) closed up 17.7 points, or 0.07%. Apple (AAPL) led the 17 advancers with its 2.3% gain, while Verizon (VZ) paced the 13 decliners with its 1.9% drop.
The S&P 500 Index (SPX - 2,985.03) added 8.4 points, or 0.3%, while the Nasdaq Composite (IXIC - 8,204.14) popped 57.7 points, or 0.7%.
The Cboe Volatility Index (VIX - 13.53) fell 0.9 point, or 6.4%.
5 Items on our Radar Today
Equifax (EFX) -- one of the biggest credit reporting agencies in the U.S. -- agreed to pay up to $700 million to settle investigations at the state and federal level, as well as class action lawsuits, related to the company's 2017 data breach, which exposed personal information of around 147 million people. The settlement is the largest ever for a data breach, and will allow restitution of up to $20,000 per person. (Reuters)Congress is reportedly making headway on debt limit negotiations ahead of its six-week recess, which begins this Friday, July 26. A deal, rumored to be in the final stages, would suspend the debt ceiling and boost government spending over the next two years, while lifting the annual budget deficit past the $1 trillion mark in 2020. (Bloomberg)This solar stock just flashed a reliable bull signal.A bruising bear note blasted Paysign stock.Beyond Meat options traders targeted a key level during today's surge.
Data courtesy of Trade-Alert
Oil Prices Pop as Iran Tensions Rise
Oil prices got a lift as geopolitical tensions with Iran ramped up. August-dated crude gained 59 cents, or 1.1%, to settle at $56.22 per barrel upon expiration, while the now front-month September contract added 46 cents, or 0.8%, at $56.22 per barrel.
Gold held near six-year highs ahead of next week's Fed meeting. August-dated gold gained 20 cents to settle at $1,426.90 an ounce.