Stock Market Overview
Stocks Erase Overnight Losses on Strength in Tech Stocks and Better-Than-Expected U.S. Economic Data
The S&P 500 Index ($SPX) this morning is up +0.13%, the Dow Jones Industrials Index ($DOWI) is up +0.09%, and the Nasdaq 100 Index ($IUXX) is up +0.30%.
U.S. stock indexes this morning erased overnight losses and are up modestly. Strength in technology stocks today pushed the Nasdaq 100 up to a new record high and is providing support for the overall market. Stocks extended their gains after U.S. June factory orders rose more than expected.
Stocks earlier moved lower in overnight trading as U.S. lawmakers remain deadlocked in their attempts to reach a compromise on a new pandemic rescue bill, although optimism improved this morning after Senate Democrat Minority Leader Schumer said the talks were "moving in the right direction."
Rising U.S./China tensions also weighed on stocks after an editorial in the state-run China Daily published late Monday said U.S. demands for the sale of China's social media app TikTok to Microsoft is "theft," and China has plenty of wa... Read more
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