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Stock Market Today: Dow Rises
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US stocks closed mixed Tuesday, but the benchmark S&P 500 (^GSPC) was able to eke out a new record as Wall Street digested a new batch of earnings, including a tariff warning from General Motors (GM),
Wall Street's reliance on a small number of high market-value stocks to keep momentum going for the U.S. equities bull market will be tested in coming days as major technology and growth companies report earnings.
The stock market's slow but steady grind higher hasn't been terribly exciting, but it illustrates a well-known Wall Street saying about snoozy markets, Mark Hackett, chief market strategist at Nationwide,
Short squeezes have been a key piece of the stock market rally as short sellers have lost just shy of $355 billion since the market bottom on April 8, according to data from S3 Partners.
The chip firm could get a boost from Elon Musk's xAI and Alphabet's Google as they race to build artificial intelligence.
I maintain a buy rating on XLG, as rate cuts and economic stability should fuel further gains in large-cap tech stocks.
Retail investors are largely behind the stock market reaching new records, buying $50 billion in stocks in the last month alone, Barclays estimated.
Like a far-off thunder cloud, there are some rumblings around the stock market, warning that current sunny skies and new highs could give way to a late summer market storm.
The yield on the 10-year hit a 52-week high of 4.896% on January 13, a week before Trump's second inauguration, and traded as low as 3.860% on April 4 before spiking to 4.607% on May 21, then settling at 4.431% on July 18.
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