
As the month’s trading concludes, the major indices posted their best results for July in 20 years. The surge began in early July when investors witnessed Goldman Sachs (GS) post enormous earnings. Since then, Intel (INTC), Caterpillar (CAT) and MasterCard (MA) have all posted results that have outpaced expectations.
The Dow Jones is higher by 8.4% this month, its strongest July since 1989, when it gained 9%. Meanwhile, the NASDAQ traded above the 2,000 mark during the week, its first venture above that level since October 2008. Since hitting their most recent lows in March, the NASDAQ has advanced 56%, while the S&P is up 48%.