S&P 500, Nasdaq try to extend win streaks
Dow edges up, S&P 500 dips, Nasdaq down
Real Est leads S&P 500 sector gainers; Tech weakest group
Euro STOXX 600 index up ~0.7%
Dollar falls; crude slips; gold up ~1%; bitcoin up >1%
U.S. 10-Year Treasury yield tumbles to ~4.18%
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S&P 500, NASDAQ TRY TO EXTEND WIN STREAKS
Wall Street main indexes are mixed early on Thursday even after data showed inflation eased in June, boosting expectations of a central bank rate cut in September.
That said, under the surface, small caps .RUT and regional banks .KRX are strongly outperforming.
In any event, the S&P 500 .SPX and Nasdaq Composite .IXIC are both attempting to extend winning streaks.
The S&P 500 is attempting to post an eighth-straight day of gains, while at the same time end at a seventh-straight record closing high. The SPX last rose eight days in a row in November 2023. The benchmark index last scored an eight-day run of record closing highs in November 2021.
The Nasdaq is attempting to rise for an eighth day in a row, and with this score eight-straight record closing highs. The Composite rose nine-straight days in December of 2023, and last posted eight record closing highs in a row in November 2021.
Meanwhile, the U.S. 10-Year Treasury yield US10YT=RR is sliding to around 4.18%. Traders are watching key support now around 4.135%.
Here is an early snapshot:
(Terence Gabriel)
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FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:
U.S. STOCK FUTURES FLAT, YIELDS SLIDE, AFTER COOLER CPI DATA - CLICK HERE
M&A: SHAKING OFF THE POST-PANDEMIC DOLDRUMS - CLICK HERE
FRENCH ELECTION STILL PRESENTS OPPORTUNITIES - CLICK HERE
NVIDIA CROWDING IS FALLING SHARPLY - UBS - CLICK HERE
EUROPE EDGES HIGHER BEFORE US CPI TEST - CLICK HERE
STOCK FUTURES HINT AT FURTHER RECOVERY BEFORE U.S. CPI - CLICK HERE
COUNTDOWN TO CPI - CLICK HERE
earlytrade07112024 https://tmsnrt.rs/3XVvL1J
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
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