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S&P 500, Dow Hit Fresh Record Highs in Midday Trading
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S&P 500, Dow Hit Fresh Record Highs in Midday Trading
Jul 15, 2024 9:55 AM

12:37 PM EDT, 07/15/2024 (MT Newswires) -- US equity indexes rose after midday Monday, with financials and energy helping the S&P 500 and the Dow Jones Industrial Average hit new highs.

The S&P 500 rose 0.5% to 5,646.8 after hitting an intraday record of 5,666.9. The Dow Jones Industrial Average advanced 0.6% to 40,258.6, hitting a fresh all-time high earlier in the session. The Nasdaq climbed 0.7% to 18,518.9. Utilities and health care were the sole decliners intraday.

In company news, Goldman Sachs' ( GS ) Q2 earnings more than doubled from a year ago, driven by double-digit gains in investment banking fees and asset and wealth management revenue. Shares marched 1.3% higher intraday.

Over the weekend, investors' attention was diverted from the economy to politics with a failed assassination attempt on former President Donald Trump at a campaign rally near Butler, Pennsylvania, according to a note from Stifel. "Early analysis suggests the odds of victory come November have shifted in favor of Trump in the aftermath of the attack, with some even upping bets on the House shifting in favor of the GOP."

The US 10-year Treasury yield climbed 2.7 basis points to 4.21%, while the two-year rate fell 1.7 basis points to 4.44%.

Further, in company news, shares of Macy's (M) tumbled 12% intraday after the department store operator said it terminated go-private discussions with Arkhouse Management and Brigade Capital due to financing uncertainty and value concerns.

West Texas Intermediate crude oil slipped 0.2% to $82.03 a barrel.

Gold rose 0.9% to $2,441.41 an ounce and silver rose 0.3% to $31.22.

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