Another night where the DOW did a U-turn on open and never looked back, opening +30.77, reaching a high of +311.56, then intraday tested the low range of +130 to +140 five times and bounced before finally closing + 163.97 (0.47%) …@zipperlip therefore had 5 chances for an Ace or Super Ace and had to settle for just first place lol … well done zip and a welcome points buffer for the July comp.
That’s 10 consecutive daily rises, with the all time record being 13 daily rises. Last night was driven by good reports for several of the DOW component companies and possibly that new unemployment registrations for the week ending July 15 were noticeably lower than anticipated (whilst inflation has been falling) meaning the economy is still sailing with tail winds.
The French CAC happened to be the best indicator for the DOW last night, but there is rarely a reliable pattern and markets are also shifted by their national events.
S+P and Nasdaq significantly under-performed the DOW, dropping -0.68% and -2.05% respectively, both accelerating away from the negative opening indicated by their futures leading up to the open.
