Stock Market Update
31-Jul-26 15:35 ET
Energy for the win in July
Dow +330.70
at 52538.76,
Nasdaq +252.00
at 25395.19,
S&P +56.93
at 7494.56
[BRIEFING.COM] The S&P 500 snuck above 7,500 but showed some indecisiveness once it got there. Regardless, it has been a shrewd move today, coming in the face of higher Treasury yields, rising oil prices, and relatively narrow leadership.
The 10-yr note yield, for its part, settled at 4.75%, up eight basis points for the session. For the month, however, it jumped 33 basis points, catalyzed partly by inflation concerns that were stoked by the 21% increase in WTI crude futures, as the U.S.-Iran war took a hostile turn.
The S&P 500 energy sector was a beneficiary of that move. Although it is down 0.2% for the week, it is up 12.5% for the month, outperforming all other sectors by at least 600 basis points. The financial sector, up 6.2% for the month, has been the next best-performing sector.
The consumer discretionary sector, up 6.3% today alone, is still only up 1.0% for the month.
