NASDAQ index off to a strong start. Closes at a record level.

The NASDAQ index is starting the 2H of the year with a solid gain after rising by 18.13% in the first half of 2024. The index is closing near highs for the day up 0.84% and at a new record closing level.

Both the Dow industrial average and the S&P also rose to start the new month, the new quarter and second half of the year.

The final numbers are showing:

• Dow Industrial Average average rose 50.66 points or 0.13% at 39169.51
• S&P index rose 14.60 points or 0.27% at 5475.09
• NASDAQ index closed at a record level up 146.70 points or 0.83% at 17879.30.

The small-cap Russell 2000 did not fair as well as it reacted to higher interest rates. That index was down -17.62 points or -0.86% at 2030.06.

Tesla will report Q2 delivery estimates tomorrow morning with expectations of 433K to 436K. Tesla shares surged $11.98 or 6.05% at $209.86 ahead of that report. Tesla shares fell -20.36% in the first half of 2024.

Some other winners today included:

• NioAADR (NIO): +6.61%
• Snowflake (SNOW): +5.67%
• Grayscale Bitcoin (GBTC): +5.36%
• Deutsche Bank AG (DB): +4.23%
• Bitcoin Futures (BMC): +3.98%
• Rivian Automotive (RIVN): +3.65%
• Merck&Co (MRK): +3.30%
• Apple (AAPL): +2.90%
• Boeing (BA): +2.70%
• Goldman Sachs (GS): +2.49%
• Crowd Strike Holdings (CRWD): +2.34%
• Broadcom (AVGO): +2.20%
• Microsoft (MSFT): +2.19%
• Palantir (PLTR): +2.15%
• Amazon.com (AMZN): +2.04%

Stocks rose despite gains in the yields:

• 2-year yield 4.759%, +4.0 basis points.
• 5-year yield 4.429%, +9.9 basis points.
• 10 year yield 4.473%, +13.0 basis points.
• 30-year yield 4.636%, +13.4 basis points.

This article was written by Greg Michalowski at www.forexlive.com.