The indices remain unchanged today, moving sideways. Three of the five indices finished in the green which are the SPX, $DJI, and RUT. Eight out of eleven of the S&P were up today. Also, as for commodities, oil (/CL) went down to about $93 but rallied to about $96, gas (/RB) continues to rally, natural gas (/NG) is barely up, and gold (/GC) closed lower. Bitcoin (/BTC) is trading a little weak around the $22,000 mark. The VIX rallied slightly throughout the day. Financials, utilities, and energy lead today with XOM and COP up 3% and 4%, whereas FAANG stocks see weakness. Twitter’s (TWTR) price target was lowered by Cowen from $38 to $22. United Airlines (UAL) was downgraded to neutral from positive with its price target lowered to $35 from $43. Finally, the Chicago Fed National Activity Index for June and the Dallas Fed Manufacturing for July were released and both disappointed. Tune in to find out more.
26 Jul 2022