00:00:18 Speaker A
That closing bell on Wall Street and now it's market domination overtime, giving you the full team coverage of all the moves, gets you up to speed on the action from today's trade. Yahoo finances Julie Hyman, as well as Christine Short, head of research at Wall Street Horizon and TMX company, and Yahoo finances Joshfer here to break down the moves today. Let's get it down to Julie Hyman, the New York Stock Exchange for more where we closed. Julie.
00:01:20 Julie Hyman
Well, I keep refreshing my numbers, but it looks like we closed just a hair shy about three point shy of that all-time record for the S&P 500. Didn't quite get it there. Also looks like we are just shy of that level on the Nasdaq composite. As a reminder, the numbers to watch there, 614415 on the S&P 500, the Nasdaq composite 20,173. So on both of those counts, a little short. The Nasdaq 100 though, there's your consolation prize. Uh, it closed a record for the second straight day. The S&P finishing higher still by about 8/10 of 1%, the Dow 9/10, the Nasdaq closer to 1% here. Um, and a lot of what is going on here is simple momentum, right? We're getting close to the end of the quarter. You see a lot of folks who want to book gains for the quarter and they're piling into this rally that we've seen in the market. And then there is also sort of the changing perspective on what we might see from the Federal Reserve. Maybe some ramping up of bets that we could get a cut in July or at the very least we'll get a couple of cuts before the end of the year. That seems to be driving some of the momentum as well. Josh, what are you seeing today?
00:03:33 Josh Shafer
Hey Julie, yeah, I'm going to take a look at the sector action to start us off here. So we did see a pretty broad rally. So we didn't get our record that we were all hoping for and getting excited for, for something to sort of hang our hats on. But when I look at this sector action, it was pretty positive overall, I would say. I mean, you're starting to see broader participation in this rally. That was a key theme we were talking about yesterday for a little while. It was just XLK and tech that was leading this market over the last 10 days. But you look here, you're seeing utilities, consumer discretionary, all the way down to energy, which led today. So you're seeing broader participation in this rally. There was some positive action at two in the Magnificent 7. You saw Amazon up over 2%. Meta also up over 2%. And Julie just mentioned momentum, which is something we've been talking a lot about, that factor where a winning stock sort of keeps continuing to win. One stock that that's certainly been happening that was up over 7% today is Circle. This stock has absolutely soared since its IPO. Stock is up over 500%. But that's sort of where the market continues to be and where a lot of the exciting action continues to be in this market has been in names like a circle where those winners just keep on winning, Josh.
