51st record close for the S&P today
The S&P and Nasdaq is closing at yet another record close
- For the S&P it is the 51st record close for the year.
- The S&P and Nasdaq have closed higher for the 5th consecutive day
- The Dow is up for the 4th day in a row.
- Dow is less than 1% from its all-time high
The final numbers are showing:
- The Dow rose 39.24 points or 0.11% at 35405.50
- The S&P rose 9.96 points or 0.22% at 4496.19
- the NASDAQ index rose 22.06 points or 0.15% at 15041.86
- Russell 2000 rose 8.36 points or 0.37% at 2239.27
Financials, energy, industrials led the way to the upside, while healthcare, consumer staples, real estate and technology lagged.
Some specific winners included:
- Western Digital, +7.87%
- Uber, +3.41%
- American Express, +3.11%
- Micron, +2.8%
- Novavax, +2.21%
- JP Morgan, +2.06%
- PNC financial, +1.96%
- Delta Airlines, +1.92%
- Wells Fargo, +1.92%
- Nvidia, +1.88%
Some specific losers included:
- express, -11.43%
- Koss, -6.6%
- Game Stop, -4.9%
- Blackberry, -3.24%
- Palantir, -2.91%
- Tencent, -2.57%
- Biogen, -1.89%
- Pfizer, -1.82%
- Beyond Meat, -1.6%
- Alibaba, -1.51%
A long weekend in the US in observance of Independence Day yesterday
It is the 4th of July weekend in the US and the holiday yesterday is carried forward to today, which means US markets will be closed later.
That may yet make for more tepid and quiet trading overall but just a heads up that liquidity conditions will be impacted as such to kick start the new week.
The headlines will cross before the speech
Find out what Powell has to say live here:
Warren Buffett feels like he’s been around forever but he was far from a household name until the late 1990s.
His first television interview didn’t take place until 1985, when he was 55-years old. What’s incredible is that he was saying then is consistent to everything he’s said in the 34 years since.
It underscores that trading isn’t about information, it’s about process. It’s his same ‘circle of competence game’ that doesn’t include chasing what’s hot.
“I don’t have to win at every game,” he said. “There are no called strikes in this game, they just keep pitching, you don’t have to swing at any of them.”
Another interesting point for the long-term investor is that he was cautious of excess noise, something that the internet has brought everywhere.
Given all the changes in the world since this interview — and the remarkable outperformance of tech — it’s truly amazing (and telling) that he’s had so much success.