Daily Chart Report ? Wednesday, July 29th, 2020

Today’s Summary
Wednesday, July 29th, 2020

Indices: US stocks closed higher in today's session with the Dow Jones Industrial Average advancing 160 points or 0.61%. The S&P 500 and Nasdaq rose 1.24% and 1.35%, respectively. Small-Caps outperformed with the Russell 2000 gaining 2.10%.

Sectors: All 11 sectors closed higher. Energy led, rising 2.09%. Consumer Staples lagged but still inched up 0.14%.

Commodities: Crude Oil futures gained 0.56% to $41.27 per barrel. Gold futures rose for the ninth consecutive day, gaining 0.45% to an all-time high of $1,953 per ounce.

Currencies: The US Dollar Index dropped 0.50%.

Interest Rates: The US 10-year Treasury yield fell to 0.577%.

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 Renaissance Macro Research (@RenMacLLC). Yesterday, we highlighted the US Dollar and the impact that it's having across asset classes. We explained that the recent Dollar weakness has provided a boost to Stocks, Commodities, and even Bitcoin. Focusing on Stocks for today, the chart here shows which industry groups within the S&P 1500 are most sensitive to changes in the US Dollar. Renaissance notes "A positive relationship means the group will decline when the Dollar declines, a negative relationship implies strength when Dollar weakens." Notice that value-oriented sectors like Materials and Energy tend to benefit from a weaker Dollar. On the other hand, Growth-oriented sectors like Software, Biotech, and Semiconductors tend to be hurt by a weaker Dollar. In a separate comment, JC Parets summed up the biggest takeaway from this chart - "Looking for sector rotation? Here's your catalyst."

Quote of the Day