A second day of mixed results with the Dow Jones Industrial leading a rally to all-time highs while tech lags and closed in the red even as Congress votes tonight to reopen the government. The Dow Jones rose 326 points, or 0.68% to a fresh high. The S&P 500 rose 4 points while the Nasdaq Composite dropped 61 points or 0.26%.
The rally in the Dow was led by health care and financials for a second straight day. Eli Lilly, UnitedHealth and ABBV all rose 3%. The big banks were higher as a number of CEOs head to DC and the White House for a dinner.
Tech lagged for a second straight day. AMD jumped 8% after an analyst day indicating they have no AI problem with strong demand out the next several years. A number of chip stocks were higher. Ironically, Nvidia lagged the sector. The big cap techs were all lower except for Microsoft which closed modestly higher.
U.S. Treasury yields close lower as the government shutdown nears an end. The 10-year Treasury yield fell 4 basis points to 4.06%. The 2-year note yield fell 2 basis points to 3.56%, while the 30-year bond yield declined 4 basis points to 4.66%.
In the commodity space, oil and energy pulled back. The price of oil was down 4% as oversupply concerns overshadow the reopening of the US government. Gold remains resolute, up 2% today at 4200 an ounce. Crypto currencies opened higher, but then pulled back as that sector remains in correction territory.
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