The S&P 500 Index is up 0.31%, while the Dow Jones Industrial Average rose by 1.05%—both reaching new all-time highs. In contrast, the Nasdaq 100 Index decreased by 0.03%. Booking Holdings saw a significant increase of over 7% after reporting Q2 gross bookings of $51 billion, exceeding estimates of $49.68 billion. Conversely, Advanced Micro Devices fell by 7% due to a disappointing Q3 sales forecast.
US economic data released today was mixed, with the July ADP employment change increasing by 44,000, below the anticipated 65,000. The ISM services index rose to 54.1, short of the expected 54.5. Additionally, mortgage applications dropped by 2.9% in the week ending July 31, and the average 30-year fixed mortgage rate climbed to 6.81%, a one-year high.
In commodities, September WTI crude oil prices fell by over 1%, reaching a three-week low, amid speculation of a potential agreement involving the US, Iran, and Oman regarding the Strait of Hormuz. Meanwhile, mining stocks rose significantly, influenced by gold reaching a seven-week high, with companies like Anglogold Ashanti increasing by over 8%.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
