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Daily Wrap-Up: Five-Day Win Streak | July 3, 2023

By July 4th, 2023No Comments2 min read

There were not many fireworks in Monday’s abbreviated trading session due to the markets being closed on Tuesday.

The bears made one weak attempt off the opening bell to incite a retreat but the bulls had nothing of it. After a minor breach of the premarket low, the index drifted higher for the remainder of the session.

Despite not making a new high for the year, the index did post its highest closing price for the year by gaining 4 handles at the closing price of 4492.25. That marks the highest closing price for the index since April 2022. 

After beating Q2 delivery expectations by a wide margin, Tesla Inc. (NASDAQ: TSLA) was by far the biggest winner of the top components. For the session, the issue cruised up by $18.05 for a 6.9% gain. That marks the highest close for the issue since September.

That far exceeded the cash index’s slight gain of 0.12%.

Microsoft Corp. (NASDAQ: MSFT) continues to sit out the rally and was the biggest loser of the top components of the index. For the session, the issue declined $2.55 or 0.75% at the closing price of $337.99.


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