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Stock Market Today: S&P 500 Nears Record, Dow Jones Jumps as Oil Prices Fall
['Tia Avet', 'Analyst', 'Covering Cryptocurrency Markets', 'Policy', 'Regulation. With Over Seven Years Of Experience In Business', 'Marketing Development', 'She Has Spent The Past Two Years Specializing In Digital Assets.', 'Min Read', 'August']
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Lower yields can support stocks by reducing borrowing costs and making future corporate earnings more valuable in current terms.
United Airlines rose 6.7%, American Airlines gained 6.4% and Norwegian Cruise Line Holdings advanced 4.3%.
The Chart Report described the Dow Jones U.S. Airlines Index as forming a large cup-and-handle pattern, a rounded recovery followed by a shorter consolidation.
The Dow Jones U.S. Airlines Index stood at 277.62 and was testing the upper edge of that long-term formation.
A sustained move above the record would support further gains, while a drop below 7,540 would weaken Monday’s intraday setup.