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Saturday, Jul 2, 2022
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Midday Stock Roundup

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The S&P; 500 rose 0.8% to 4,518.77 during midday trading.

The Dow Jones Industrial Average increased 0.9% to 35,427.88.

The Nasdaq decreased 1.2% to 14,188.02.

The yield on a 10-year Treasury bond increased 1.8% to 1.951%.

The price of gold climbed 0.4% to $1,828.40.

The price for a barrel of oil dropped 2.1% to $89.43

AUTOMOTIVE

Irvine-based Rivian Automotive LLC (Nasdaq: RIVN) shares rose 4.6% to $61.08 apiece for a market cap of $54 billion. “The electric vehicle maker is progressing well on its plans,” investor website TheMotleyFool.com said earlier in the day. “Given that Rivian was just around 100 vehicles short of its target in the very first quarter of its production, it could well deliver on its targets for the next two years.”

FINANCE

Shares in Foothill Ranch-based loanDepot Inc. (NYSE: LDI) climbed 12.2% to $4 apiece for a market cap of $540.8 million. Investor website Stockstelegraph.com reported earlier in the day that the company is “working to make significant investments in technology to improve operational efficiencies, expand the in-market retail mortgage origination capabilities, and improve the in-house servicing platform. Even if total origination volume diminishes, the company will have all of the tools to take market share.”

Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal

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