- After dipping earlier in the session, the three major U.S. stock averages all pull up into positive territory, though just barely for the Nasdaq, bringing them near or past their all-time records.
- The S&P 500 rises 0.2%, the Dow +0.1%, and the Nasdaq gains 0.1% in midday trading.
- "U.S. equities remain resilient as they continue to climb the wall of worry into record-high territory," Craig Johnson, a technical market strategist at Piper Sandler said in a note to clients. "An impressive start to earnings season has kept the buy the dip sentiment alive and offset concerns over peak growth and rising new cases of coronavirus."
- Tesla powers up 3.2% as bitcoin revives to $38.6K and ahead of the EV auto makers' Q2 earnings release after today's close. Energy names also buoy the broader indexes. Exxon Mobil rises 2.2% as it expects its Saudi Gulf Coast JV project to start ahead of schedule; Chevron gains 2.1%.
- Among decliners, Willis Towers Watson shares drop 7.4% after its merger with Aon falls apart; Lockheed Martin slides 3.2% following Q2 results.
- Crude oil slips 0.5% to $71.74 per barrel.
- Among S&P 500 industry sector, Energy (XLE +2.2%) and Materials (XLB +0.7%) rise the most while Health Care (XLV -0.6%) and Real Estate (XLRE -0.2%) exert the most downward pressure.
- In Europe trading, the Stoxx 600 Index slipped 0.1%, the DAX fell 0.3%, and the FTSE 100 ended the session essentially flat.
- U.S. dollar index falls 0.4% to 92.57.