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All three of the major indexes (^DJI, ^GSPC, ^IXIC) closed higher thanks to a delay in a 50% tariff on goods from the EU and upbeat consumer confidence data. Yahoo Finance Markets and Data Editor Jared Blikre recaps the action at the close.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
We're going to start this week off in the green rally mode. Of course we had that consumer confidence report this morning, a rebound, that helps. The US EU tariff reprieve, that helps. Uh, rallying global bonds, the bounce we saw in the JGBs, Japanese government bonds all added up, got the Dow up about 740 points. The S&P 500, your broad gauge, tacking on more than 2%, and the Nasdaq adds 2 and a half percent in today's trade. Now to Jared for a closer look at today's sector action.
Thank you, Josh. Uh, let's check out the YFi interactive here. We are closing at the highs of the day. This is a Dow right here. Good for 740 points. Uh, not quite 2% here, but the Nasdaq exceeding that 2 and a half percent up on the day. And there's another market up at the close, at the highs of the day. Finally, here's the S&P 500 a little bit less than that 2.05%, a very similar looking chart. By the way, these are the best days in the market since May 12th. So that's over two weeks. And we can also see some of the risk on action in the VIX, which is going the opposite way. Uh, lower VIX usually, uh, concurrent with a rising stock market, and that's what we saw today back below the 20 mark. And we can also take a look at the 10 and 30 year T-bond yields. Uh, here's the 10 year T-note yield. That was down seven basis points to 4.43%. And the 30 year, as I've been talking about all today, down below 5% again, down about nine basis points. Uh, also, real quick, US dollar index up just a little bit off of those lows, pretty close to three year lows. So that's an important development as well. Here is the sector action. Everything in the green led by consumer discretionary, led by tech. Those were the only two out performers, but don't count out industrials, financials, materials. Those are on the top rows as well, up over one and three quarters of a percent. And you can really see the strength of the market, especially in the tech sphere, on this Nasdaq 100 heat map, where we have Tesla up 7%, Broadcom up 3%, uh, Pinduoduo, uh, bad earnings report there. That's not it. Pinduoduo, uh, soft sales, 13.64% down on the day. Looking at China real quick, that was another kind of sore spot, but you're not going to see a lot of red like this on most of the other boards. We can look at the Dow. We can look at, uh, the Dow transports. Those were just the industrials. Everything in the green here, United Airlines, Delta Airlines up, almost 5%, 3% respectively. And then we can take a look at our leaders as well. So a couple things didn't work today. I already pointed out China, cannabis, and emerging markets, not so good. But Ark Innovation Fund, uh, we'll take a peek at that in a second. Also the MAG seven, also the chip trade, and small caps. So pretty broad base of US based assets looking good today. And I'll just close on this. This is the Ark Innovation Fund. You can out Tesla. Most of these are smaller names. Shopify up 5%, Hood up 4 and a half percent. So all around the tech sphere looking pretty bullish today.
