S&P 500 on Brink of Bull Run

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News in Brief

Bloomberg:

Stocks melt-up drives S&P 500 to brink of Bull run.
BofA says AI frenzy drives record inflows into tech.

MarketWatch:

Oil price jump more than 2% after Saudi Arabia sets July production cut.
Opinion: America’s latest pullback from debt-ceiling cliff won’t be its last.
S&P 500 nears bear-market exit. Will big tech’s rally finally spread to the broader stock market?
Dow jumps more than 700 points, S&P 500 nears bear market exit after May jobs report and debt-ceiling bill.

yahoo! finance:

Stocks rally after May jobs report tops expectations.
Financial advisers use AI to work better and faster.

Stocks rallied after the latest jobs report. US unemployment rate of 3.4% at lowest rate since 1969.

Global Indexes

S&P 500

We are showing the weekly chart of the S&P 500 to show its 4300 level. Markets see a bull run if this level gets broken.

DAX

The DAX broke its EMA8 line with a breakaway gap.

HANG SENG

After the breakaway gap of the HANG SENG it closed with a 4% positive move for the day to break its EMA8 line. With only its EMA8 line broken, it still has all the other resistances above.

NYSE & NASDAQ Stocks

Caterpillar Inc

Caterpillar was one of the strongest movers on the DOW and the S&P500. A previous gap acted as strong support for this share that made a breakaway gap.

Home Depot Inc

Eleven shares listed on the DOW made breakaway gaps. Home Depot was one of them. It also broke its 50-day moving average with its breakaway gap.

JSE Stocks

JSE All Shares

After the piercing candle the JSE All Shares continued the bull run to close on its 50-day moving average. Notice that Frontrunner broke its negative trend line.