US Stocks Begin Third Quarter Higher Following Worst First Half in Decades

Last Updated: Friday, July 1, 2022 4:07 PM | MT Newswires

US equity benchmarks were higher on the first session of the third quarter following Thursday's slump that ended the worst first half seen in decades.

Government bond yields extended their declines as a closely monitored manufacturing gauge fell to its lowest level in two years in June.

The Dow Jones Industrial Average rose 1.1% to 31,097.46, the S&P 500 was also up by 1.1% to 3,825.36 and the Nasdaq Composite was nearly 1% higher at 11,127.85. The utilities led the gainers, with all sectors in the green.

The US 10-year yield dropped 8.5 basis points to 2.89%.

West Texas Intermediate futures, however, jumped 2.4% to $108.33 amid ongoing supply disruptions in Libya and Norway.

Gold was slightly higher at $1,807.70 per troy ounce, while silver was down 2.6% to $19.82 per ounce.

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