Fast Money Blog- 7/5/24

The week on Wall Street saw stocks staying in a trading-range, as is usual for the period around the July 4th holiday.

Here's a look at the performance of a few stocks this week:

Nvidia Corporation (NVDA)  

Closed on Monday, July 1st at $124.30

Closed today, Friday, July 5th at $125.83

Applied Materials , Inc. (AMAT)

Closed on Monday, July 1st at $237.41

Closed today, Friday, July 5th at $242.59

Microsoft Corporation (MSFT)

Closed on Monday, July 1st at $456.73

Closed today, Friday, July 5th at $467.56

In other news, on Friday, July 5th, the Bureau of Labor Statistics released June’s U.S. Jobs Report. Job growth was weaker than expected and the unemployment rate rose to 4.1%, the highest reading in almost 3 years. 

Hey Tyrone, so what does all of this mean?

Based on this week’s labor report, the U.S. economy is cooling and should prompt the Fed to lower interest rates at least once before the end of the year.  

As always, stay open and stay positive! 

There’s more good news to come for the U.S. equity markets.

Tyrone Jackson

The Wealthy Investor