Market Recap – July 18th 💰

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Market Recap – July 18th

Yesterday The Dow surged by 366.58 points, equivalent to a 1.06% increase, culminating at a closing value of 34,951.93. The Nasdaq Composite experienced a noteworthy climb of 0.76%, concluding the session at 14,353.64. Similarly, the S&P 500 displayed a gain of 0.71%, ultimately reaching a closing point of 4,554.98. Notably, the Dow achieved its seventh consecutive day of advances, marking its most extended winning streak since March 2021. Moreover, all three major indices obtained their highest closing levels since April 2022.

Looking at specific investments, we are watching Yeti and State Street. Yeti, the cooler company, saw its stock drop 5.8% after being downgraded to underweight by KeyBanc. The downgrade was due to concerns about Yeti’s growth and its excessive wholesale channel inventory. Asset manager State Street also experienced a decline of over 3.1% following multiple downgrades, including one from JPMorgan. State Street’s second-quarter earnings report revealed a 10% decrease in net interest income compared to the previous quarter.

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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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