According to The Concept Trading, the Dow Jones Industrial Average closed at a record fifty four thousand three hundred forty nine point twelve, up two hundred sixty three point twenty four points, or zero point forty nine percent, while the S and P five hundred fell twelve point ninety seven points, or zero point seventeen percent, to seven thousand seven hundred twenty three point fifty five, and the Nasdaq Composite slipped about two hundred twenty one points, or zero point eighty three percent. According to Associated Press, the main driver was Friday’s unexpectedly weak July jobs report, which showed a loss of twenty three thousand jobs and helped push Treasury yields lower while supporting hopes that the Federal Reserve can stay on hold on rates for longer. According to CNBC and Associated Press, the strongest sectors were technology and semiconductors, while defensives lagged less than the broad market, with chip stocks helping the Nasdaq outperform on the week. According to Reuters, premarket futures before the open were slightly higher, with S and P five hundred futures up about zero point two percent and Nasdaq one hundred futures up about zero point five percent. According to Reuters and CNBC, key items to watch next are any follow through in Treasury yields, fresh comments on Federal Reserve policy, and upcoming earnings from major technology and semiconductor names that could extend or reverse this week’s momentum. According to CNBC, the week was strong overall, with the S and P five hundred, Dow, and Nasdaq all posting their best weekly gains since April. Thank you for tuning in and please subscribe. This has been a quiet please production, for more check out quiet please dot ai.
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