May 08, 2024 (MENAFN via COMTEX) --
(MENAFN - Baystreet) Dow Gains as Treasurys Travel Upward
Dow Aiming for 5 Straight Wins
Dow Tries to Add to Streak
Rate Cut Prospects Helps Equities Perk
Stocks Rise on Hope of Rate Cut Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Tuesday, May 7, 2024
Dow Posts Longest Win Streak Since December Advertisment
The Dow Jones Industrials gathered 31.53 points to conclude the session at 38,883.80.
The S&P 500 added 6.95 points to 5,194.18.
The
NASDAQ took on 31.23 points to 16,3.
Disney shares fell more than 10% after the media and entertainment giant posted a slight revenue miss but exceeded quarterly earnings expectations. Shares of defense-technology firm Palantir plunged roughly 14.5% on weaker-than-expected guidance.
Peloton's stock price jumped more than 13.5% on news that private equity firms have been considering a buyout of the fitness company.
Wall Street is coming off a winning session, with investors riding the momentum seen late last week after fresh U.S. jobs data alleviated concerns that the economy was too hot and Fed Chairman Jerome Powell ruled out an interest rate hike as the central bank's next move.
To be sure, other conflicting economic data - such as an uptick in the employment cost index - indicate there are still questions surrounding the actual trajectory of inflation.
Prices for the 10-year Treasury jumped, lowering yields to 4.42% from Monday's 4.49%. Treasury prices and yields move in opposite directions.
Oil prices removed 18 cents to $77.30 U.S. a barrel.
Gold prices docked $8.60 to $2,322.60.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN07052024000212011056ID1108185803
COMTEX_452067418/2604/2024-05-08T10:31:58
