Equities closed the week on a positive note with investors “buying the dip” into the weekend after a week that saw the Technology Sector fall out of the leadership spot for the year replaced by the Financial Sector. The major US Indices were all positive on the day with the Dow leading the advance adding 1.64% while the S&P 500 added 1.11% and the Nasdaq Composite added 1.03%. Futures have opened positive for Monday morning as of this writing.
The Russell 2000 (+1.67%) and Russell Mid-Cap. Index (+1.33%) were positive while the MSCI Developed Markets Index was up .52% while the EM Index was off 0.16%.
Outside of the US equity market, Oil and Commodities prices traded lower with a barrel of WTI ending the week trading at $77.08 and the Bloomberg Commodities Index closing just above the key 95 level which is intermediate-term support for the index. The yield on the 2yr and 10yr Treasuries were lower at 4.36% and 4.17% respectively.
Light economic calendar for Monday while earnings releases are headlined by McDonalds Corp.
Eco Data Releases | Monday July 29th, 2024
| Date Time | Event | Survey | Actual | Prior | Revised | |
| 07/29/2024 10:30 | Dallas Fed Manf. Activity | Jul | -15.5 | — | -15.1 | — |
S&P 500 Constituent Earnings Announcements by GICS Sector | Monday July 29th, 2024
Sources: Bloomberg
