STOCKS | Dow Hits Intraday and Closing Records as U.S. Treasury Yields Fall

U.S. Treasury yields fell and yield spreads were mixed, while the Nasdaq Golden Dragon China Index and U.S. stocks rose; the Dow Jones Industrial Average set new intraday and closing highs and the Dow and S&P 500 extended gains for a second straight session, according to Ming Pao. U.S. data showed the pace of services-sector expansion slowed in June, but hiring activity accelerated. SK hynix’s U.S. IPO was reportedly oversubscribed. Saudi Aramco sharply cut its key crude oil selling prices for Asia. Hedge funds’ bearish positioning on the Japanese yen rose to the highest level since 2007.