Stocks Reach 5-1/2 Month High

The stock market had a very good July. The S&P 500 gained 5.51% for the month making it the fourth monthly gain in a row.

This morning, the index got as high as 3,299. That’s the highest intra-day level since February 20. We have new highs from Trex, Danaher, Ansys and Broadridge. Several others are very close.

On Friday, the 10-year Treasury closed at a record low of 0.55%.

This is an important week for economic news. This morning, the ISM Manufacturing Index came in at 54.2. That’s pretty good. It was the best ISM number since March of last year.

There’s more economic news due later this week. On Wednesday, ADP will release its payroll report for July. On Thursday, we’ll get another report on jobless claims. This has increased over the last two weeks. Then on Friday, we’ll get the July jobs report.

Posted by on August 3rd, 2020 at 10:47 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.