Daily Chart Report ? Wednesday, July 1st, 2020
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Today’s Summary
Wednesday, July 1st, 2020
Indices: US Stocks were mixed in today's session with the Dow Jones Industrial Average slipping 78 points or 0.30%. The S&P 500 and Nasdaq moved higher by 0.50% and 0.95%, respectively. Small Caps underperformed with the Russell 2000 falling 0.97%.
Sectors: Real Estate led, gaining 2.73%. Energy was the clear laggard, dropping 2.43%.
Commodities: Crude Oil futures rose 1.40% to $39.82 per barrel. Gold futures dropped 1.14% to $1,780.
Currencies: The US Dollar Index fell 0.24%.
Interest Rates: The US 10-year Treasury yield moved higher to 0.678%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Shane Murphy (@murphycharts). The chart shows the S&P 500 (in pink) and Copper Futures (in blue), since the March lows. Gold isn't the only metal breaking out this week. Shane points out that Copper futures reached their highest level since mid-January today. In a comment to The Chart Report, Shane explained, "This is a welcomed development for the bulls. Continued demand for an industrial metal like Copper is a positive sign for growth and the global economy. Also, Copper futures are in a positively correlated regime with the S&P 500. If you're bullish on stocks here, you want to see Copper breaking out and leading the way higher like we see today." On top of all this, July has historically been the best month for Copper futures over the past 30 years - according to Baird strategist, Willie Delwiche.
Quote of the Day
"Intelligence is the ability to adapt to change."
–Stephen Hawking
Top Links
The Best Quarter Since 1998 - LPL Financial Research
With Q2 now in the books, the team at LPL Financial Research highlights some great stats about how stocks have historically performed after a strong quarter like the one they just had.
David Keller Talks Technical Trends in Gold - TD Ameritrade Network
In this clip from TD Ameritrade Network, David Keller shares his technical perspective on equities and Gold.
The Gold Breakout - The Reformed Broker
Josh Brown of Ritholtz Wealth Management weighs-in on the breakout in Gold.
Just Buy Them Baby! - All Star Charts
In this interview, JC Parets discusses some of the strongest areas of the market.
Market Stronger Before Independence Day Holiday than After - Almanac Trader
Seasonality expert, Jeff Hirsch breaks down how the major indices have historically performed around the July 4th holiday.
Top 10 Tweets