Wall Street indexes were mixed on Monday, July 25, as investors kept a close eye on the Federal Reserve meeting and key earnings from major companies scheduled to be released later this week.
The S&P 500 rose 0.13% to 3,966.84. The Dow Jones rose 0.28% to 31,990.04. The NASDAQ Composite lost 0.43% to 11,782.67, and the small-cap Russell 2000 rose 0.60% to 1,817.77.
Several large companies, including Microsoft Corporation (MSFT), Alphabet Inc. (GOOGL), Apple Inc. (AAPL), and Amazon.com, Inc. (AMZN), is scheduled to report this week. Market participants will continue to watch earnings for clues on how they have performed amid the turbulent global market scenario.
In addition, comments from Fed Chair Jerome Powell will be closely watched by investors at the conclusion of the Federal Reserve’s two-day policy meeting on Wednesday. The Federal Reserve is expected to raise interest rates by 75 basis points this month.
Another key data that will shed light on the economy, the advanced Gross domestic product (GDP) data for Q2 will be released by the Commerce Department on Thursday.
On Monday, the energy and health care sectors led gains in the S&P 500 index. Seven of the index’s 11 segments remained in positive territory. The information technology and consumer discretionary sectors are the laggards.
Shares of Newmont Corporation (NEM) fell 13.41 percent in intraday trading after the gold mining firm cut annual gold production guidance due to operational challenges at one of its mines. In addition, the competitive labor market is also weighing on its business, it said.
Weber Inc. (WEBR) fell 15.65 percent on Monday after the manufacturing company withdrew its sales and earnings guidance for the current year and announced the departure of its CEO.
World Wrestling Entertainment, Inc. (WWE) added 8.36 percent, after the professional wrestling firm’s CEO Vince McMahon said Friday that he is retiring.
In the energy sector on Monday, Exxon Mobil Corporation (XOM) rose 3.24%, Chevron Corporation (CVX) gained 2.96%, and Shell plc (SHEL) rose 2.84%. PetroChina Company Limited (PTR) and TotalEnergies SE (TTE) rose 1.55% and 2.21%, respectively.
Among healthcare stocks, UnitedHealth Group Incorporated (UNH) rose 1.50%, Pfizer Inc. (PFE) added 1.06%, and AbbVie Inc. (ABBV) rose 1.16%. Novo Nordisk A/S (NVO) added 1.18%. Thermo Fisher Scientific Inc. (TMO) and AstraZeneca PLC (AZN) advanced 1.07% and 1.39%, respectively.
In the technology sector, NVIDIA Corporation (NVDA) fell 1.70%, Adobe Inc. (ADBE) fell 2.47%, and Salesforce, Inc. (CRM) was down 2.84%. Intuit Inc. (INTU) and ServiceNow, Inc. (NOW) fell 1.96% and 1.49%, respectively.
In the crypto space, Bitcoin (BTC) and Ethereum (ETH) fell by 3.71% and 6.67%, respectively, in the last 24 hours. The global crypto market cap was down 4.68% to US$994.81 billion as of 4:03 pm ET on July 25.
Futures and Commodities
Gold futures were down 0.61% at US$1,716.85 an ounce. Silver was down 1.61% at US$18.317 an ounce, while copper was up 0.41% at US$3.3632.
Brent oil futures rose 1.68% to US$100.03 per barrel and WTI crude rose 2.03% to US$96.62.
Bond Market
30-year Treasury bond yields rose 1.16% to 3.031, while 10-year bond yields rose 1.00% to 2.809.
The US Dollar Futures Index was down 0.30% at US$106.300.
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