Noor Trends News, Technical Analysis, Educational Tools and Recommendations
US stocks rose slightly Monday in a shortened session that kicked off the second half of what’s already been a stellar year on Wall Street. The Dow Jones Industrial Average added 10.87 points, or 0.03%, to finish at 34,418.47. The S&P 500 climbed 0.12% to end at 4,455.59, while the Nasdaq Composite advanced 0.21% to 13,816.77.
US markets closed early ahead of the Fourth of July holiday. They will be closed Tuesday as well. Tesla shares jumped 6.9% after the electric vehicle maker reported delivery and production numbers that beat analysts’ expectations. Other electric vehicle stocks including Rivian, Fisker and Lucid rose together.
Monday’s shortened session marked the start of a new trading month, quarter and half. On Friday, the Nasdaq Composite closed out its biggest first-half gain since 1983, surging 31.7%, while the S&P 500 jumped 15.9% for its best first-half performance since 2019. The Dow Jones Industrial Average lagged, climbing a modest 3.8% during the period.
Those gains come as enthusiasm around artificial intelligence boosted tech stocks. Recent data showing a resilient U.S. economy despite higher rates also lifted investor sentiment, easing some fears on Wall Street of a long-awaited downturn.
The ISM’s manufacturing purchasing managers’ index for June came in slightly worse than expected. June’s reading was once again below 50, signaling that economic activity was declining. Later in the week, investors will be following data on the labour market.
