Stocks soar higher, Dow leads gains in trading week open

view original post

US equities (^DJI, ^IXIC, ^GSPC) rip higher to start the week off, the Dow Jones Industrial Average roaring ahead by nearly 230 points at the get-go of Monday trading. The Morning Brief’s Seana Smith and Brad Smith monitor the movements in the major indexes, while Jared Blikre eyes market volatility (^VIX), Treasury yields (^TYX, ^TNX, ^FVX), sector gains this morning.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video Transcript

Well, we’ve got the opening bell on Wall Street as we kick off a new trading week.

Again, the major averages not huge movement that we’re seeing here right at the Open.

But coming off Brad, another record setting week here for the markets.

Yeah, we were taking a look at the two bell ringers there.

You had smurf it over at the NYSC.

And then it looked like you had some athletes.

It’s over at the NASDAQ, Uh, team USA rep. And see, uh, one of my former colleagues, former boss Bob Mug, up there on the podium as well.

Here was some fun Fetty.

We’re just days weeks away now from the summer Olympics that we’re all gonna be watching.

Well, anyway, there you’re taking a look at the opening bell.

We open up higher across the board here.

All right, let’s kick it over to Jared L as a closer look at some of this movement that we’re seeing right at the open.


Yes, A little bit of a rally here, so we got the Dow up about 100 and eight points.

That’s only worth about a quarter of a percent.

So kind of a sleepy open here is to be expected.

We’ve got the NASDAQ on.

Uh, I think it’s up six weeks in a row.

Don’t quote me on that, but definitely a nice string.

And, uh, we talk about this time of the first time.

The 1st 10 days of July are actually the most bish period of the year.

So great time to be long.

And, uh, let’s take a look here.

Let’s see, we got the Vicks that has been heading lower.

We also have the dollar heading lower.

We also have the 10 year treasury note, uh, yield heading lower, and all of that is bullish.


Let me just show you the vics really quick.

This is a year to date chart.

You can see it’s inflected just the tiniest little bit right there at the hard right edge of the chart, but definitely near the lows of the year.

You could draw that line all the way back.

Uh, here’s a 10 year Tino Yield that’s heading down as well, but approaching pretty big support 4.2 to 4.25 is the area to watch?

Not quite there just yet.

And we were watching Tech as the early leader today, but it is now in fourth place.

XL OK, right there.

Kind of in the middle of your screen on the top row.

Uh, then we have industrials That is a leader now followed by financials and then materials.

Real estate, I should add.

Also outperforming energy communication services, communication.

Excuse me, consumer Discretionary.

All three of those are heading down right now.

But again, not any big movements.

And then I want to track Tesla.

Tesla is down about 1.6% and this is going to snap something like, uh, an 87 or eight day win streak for Tesla.

There, you can see over the last 10 days, it is up 35% and is off to the races here as soon as it broke above $200 per share.

But now, now it is reaching a potential resistance point.

So we’ll see if, uh, Tesla pauses