S&P 500 Suddenly Has a 4-Day Win Streak

That matches the longest of the year
By Newser Editors,  Newser Staff
Posted Jul 7, 2022 3:16 PM CDT
S&P 500 Suddenly Has a 4-Day Win Streak
A trader works on the floor at the New York Stock Exchange in New York in this file photo.   (AP Photo/Seth Wenig)

The stock market continued its relatively sunny mood of late, with all three major indexes rising at least 1%. The Dow rose 346 points, or 1.1%, to 31,384; the S&P 500 rose 57 points, or 1.5%, to 3,902; and the tech-dominated Nasdaq rose 259 points, or 2.2%, to 11,621. For the benchmark S&P, that marks a four-day streak of gains, reports CNBC. And as small as that may sound, it actually matches the longest win streak in a turbulent year. The day's gains were broad throughout the market.

But apparently nobody should get too excited. “There’s not necessarily much conviction in this move, but it is nice to see that, in the absence of new negative news, that markets are bouncing off of short-term oversold levels,” Angelo Kourkafas of Edward Jones tells CNBC. The Wall Street Journal notes that investors will be watching Friday's new monthly unemployment report. Analysts expect employers to have added about 250,000 in June, down from 390,000 in May. How the actual number comes in could affect the Fed's next move on interest rates. (Read more stock market stories.)

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