Dow Jones Industrial Average (^DJI)
| Previous Close | 40,000.90 |
| Open | 40,138.40 |
| Volume |
| Day's Range | 40,136.10 - 40,351.10 |
| 52 Week Range | 32,327.20 - 40,351.10 |
| Avg. Volume | 355,006,833 |
- Yahoo Finance Video
Trump picks Vance as VP, Dow hits new closing high: Market Domination Overtime
On today's episode of Market Domination Overtime, Hosts Julie Hyman and Josh Lipton break down the market close and some of the biggest stories of the trading day. The Dow Jones Industrial Average (^DJI)close at a record high in Monday's session, closing 0.53% higher. Meanwhile, the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) ended the day in the green, slightly below their record closes. The S&P 500 hit an all-time high intraday. Former President Donald Trump has announced Senator JD Vance (R-Oh.) as his vice presidential pick just days after surviving an assassination attempt in Pennsylvania. Unlimited co-founder, CEO, and CIO Bob Elliott notes that following the assassination attempt, the odds of Trump winning the election have increased. He explains, "What we're seeing is actually gold (GC=F) as one of the best-performing assets in the market, reflective of the fact that we're likely to get large deficits ahead as the Republicans have a higher probability of controlling all three chambers of the US government. We're seeing bonds sell off as a function of growth likely being stronger and having those larger deficits and higher inflation." Meanwhile, Alphabet (GOOG, GOOGL) is in talks to acquire cyber security startup Wiz for $23 billion, according to a report from the Wall Street Journal. Jefferies senior analyst Brent Thill is excited by the deal, stating: "I think this makes a lot more sense given that they [Wiz] can address both small, mid, and large enterprises with this technology. That the government — there's zero chance, in my opinion, they could push back on this because it's enabling the security and safety of data, and no one has dominant market share, so it makes a lot of sense for us... I'd be a lot more excited as a shareholder if this was happening." Finally, Julie Hyman and Josh Lipton break down what to watch on Tuesday, July 15, from major bank earnings to the kickoff Amazon's (AMZN) Prime Day. This post was written by Melanie Riehl
- Yahoo Finance Video
What happens if Republicans win the majority in 2024?
Former President Donald Trump has announced Senator JD Vance (R-Oh.) as his vice presidential pick just days after surviving an assassination attempt in Pennsylvania. Unlimited co-founder, CEO, and CIO Bob Elliott joins Market Domination Overtime to discuss how the market (^DJI, ^IXIC, ^GSPC) is reacting to the news. Elliott notes that following the assassination attempt, the odds of Trump winning the election have increased. "What we're seeing is actually gold (GC=F) as one of the best-performing assets in the market, reflective of the fact that we're likely to get large deficits ahead as the Republicans have a higher probability of controlling all three chambers of the US government. We're seeing bonds sell off as a function of growth likely being stronger and having those larger deficits and higher inflation. "And we're seeing some stock rally, but not that much stock rally in the market, reflecting the fact that it's going to be challenging to keep up this level of growth with those levels of deficits and upward pressure on interest rates." Elliott adds that if Republicans obtain control over Congress, a less divided government would create some uncertainty. As Republicans would have an easier time passing legislation with the majority, Elliott would expect "even more deficit spending and particularly corporate beneficial deficit spending." However, he notes that the lack of movement in the stock market currently "is a reflection of that balance of increased uncertainty [and] more favorable policy." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Melanie Riehl
- Yahoo Finance Video
Stay invested in the market regardless of politics: Strategist
As the 2024 election season heats up with this week's Republican National Convention, many on Wall Street debate how the build-up to and ultimate outcome of the election will impact markets (^DJI, ^IXIC, ^GSPC). LPL Financial chief equity strategist Jeff Buchbinder joins Market Domination to share how best investors should be taking in all the political whirlwinds, including the attempted assassination attempt on former President Trump this past weekend which pushed markets higher, in order to make wise investments. "Even though we have thought for a while that stocks are a little bit expensive, we have remained fully invested. That's been our recommendation, we're neutral on equities... the numbers here are very compelling, in terms of staying invested," Buchbinder tells Yahoo Finance. "So certainly there were some Democrats that missed out on gains during the Trump presidency before. There's certainly, the opposite as well. So, yeah, staying invested, the stock market goes up something like 78% of the time. Staying invested over the long haul makes a lot of sense. It's very unlikely that you're going to get declines over any meaningful period of time." Buchbinder and LPL Financial remain neutral on equities For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
