Market Recap – July 26th 💰

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Market Recap – July 26th

On Wednesday, the Dow Jones  experienced its best winning streak since 1987, rising 0.23% and adding 82.05 points to reach 35,520.12. The 30-stock index extended its rally to 13 consecutive days, a feat not achieved since January 1987. If the index rises for 14 straight days on Thursday, it will tie the record for the longest streak ever, going back to June 1897, shortly after the Dow was created in May 1896. On the other hand, the S&P 500 declined slightly by 0.02%, closing at 4,566.75, while the Nasdaq Composite lost 0.12%, settling at 14,127.28.

In corporate news, Chipotle Mexican Grill’s stock faced a 9% decline in after-hours trading due to lower-than-expected sales, reporting adjusted earnings of $12.65 a share on $2.51 billion in revenue, missing the Wall Street expectations of $12.31 EPS and $2.53 billion in revenues. On a positive note, Imax saw a 5% increase in its shares after reporting better-than-expected quarterly results, with adjusted earnings of 26 cents per share, surpassing analysts’ expectations of 16 cents. Additionally, its revenue of $98 million exceeded the expected $86.6 billion.

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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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