**US Stock Market Overview – July 19, 2023**
On July 19, 2023, the S&P 500 Index closed down 0.14%, the Dow Jones Industrial Average fell 0.01%, and the Nasdaq 100 Index decreased by 0.54%. This decline occurred against a backdrop of rising crude oil prices, with WTI crude reaching a six-week high, up over 2% amid ongoing supply disruptions linked to tensions between the US and Iran. The 10-year Treasury note yield climbed to a two-month high of 4.66%, affecting overall market sentiment.
Mortgage applications in the US increased by 1.9% for the week ending July 17, with the average 30-year fixed mortgage rate hitting an 11-month peak of 6.69%. As the earnings season commenced, analysts predict a substantial 23% increase in Q2 earnings, driven primarily by artificial intelligence advancements. Notably, 89% of S&P 500 companies reporting so far have surpassed expectations.
Overseas markets presented mixed results, with the Euro Stoxx 50 gaining 0.50% and Japan’s Nikkei-225 declining by 0.18%. In the bond market, the 10-year German bund yield rose to a two-month high of 3.192%, reflecting similar trends in the US.
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