Finance & Investing

Treasury is Back Up | July 20 | Eagle Nest

Tuesday, July 20, Market Recap

Good Evening,

The DJIA rose 1.60%

The S&P 500 was up 1.50%

The Nasdaq Composite added 1.60%

Banking led the market today.

Financials

The 10-year Treasury yield rose above 1.20% today and boosted bank stocks today. Bank of America and JPMorgan Chase added 2.03% and 1.86%, respectively. Investors suggest the economy has transitioned to an expansion phase.

Tech

After raising revenue and EPS estimates for third quarter, Apple’s price target was lifted to $166. Apple rose 2.60%. IBM topped second quarter results and was up 1.39%. The company spent $1.75 billion in acquisitions in the second quarter.

Energy

US crude oil inventories unexpectedly rose by 810,000 barrels last week, compared to the draw of 4.1 million barrels the week earlier. ExxonMobil added 1.12% today.

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