MARKET REVIEW

7/10/2020 Market Review

U.S. stocks are mixed as market choppiness continues, with the tech sector pausing after leading the Nasdaq back to record high territory this week, while stocks that had been pressured by the uneasiness regarding the persistent rise in new COVID-19 cases out of the U.S. are rebounding.

Gilead Sciences is contributing to the rebound of economic "reopening" stocks after it announced more positive results from a study of its COVID-19 treatment candidate known as Remdesivir. WD-40 missed quarterly expectations, Ford Motor Company warned of supply shortages out of Mexico, and United Airlines has reportedly reached a tentative deal on furloughs and retirement packages.

Treasury yields remain lower as bond prices rise and the U.S. dollar has turned lower amid the upbeat virus treatment data, which appears to be countering some of the disappointment from a read on wholesale price inflation.

Gold has given up an early gain and crude oil prices have reversed higher.

Asia finished broadly lower as China snapped a string of rallies, and Europe is higher on some upbeat data in the region.

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