Key things

  • The stock market’s gains-led rally continued on Monday, July 24, 2023 at noon.
  • Chevron shares rose as the oil giant reported better-than-expected results and futures rose.
  • Shares in Domino’s Pizza rose as the pizza chain beat estimates on earnings boosted by its overseas business.

U.S. stocks opened the week higher at midday, with the Dow heading for its 11th straight winning session, boosted by strong second-quarter earnings reports.

Becton Dickinson (BDX) was the top-performing stock in the S&P 500 after U.S. regulators gave the green light to the medical device maker’s updated infusion system. Chevron shares (CVX) led the Dow higher as the energy giant said it expects better-than-expected earnings and waived the retirement age limit for CEO Michael Wirth. Chevron and other oil firms also got a boost from a rise in oil futures.

AMC Entertainment Holdings (AMC) shares surged after the movie theater chain filed a revised stock conversion proposal and posted its best weekend box office in four years. Shares of Domino’s Pizza (DPZ). alphabet (GOOGLE) stock outperformed its earnings report this week.

American Express (AXP) shares fell after Piper Sandler downgraded the stock and cut its price target due to student debt. Shares of Gilead Sciences (GILD) sank after the drugmaker canceled a phase 3 study of an experimental blood cancer treatment, saying it would not be effective.

Gold prices fell. The yield on the 10-year Treasury note was little changed. The US dollar rose against the euro and the pound, but fell against the yen. Most major cryptocurrencies were trading lower.


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