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S&P Hits Record High to Start Week
Stocks Little Changed Monday After Record Week
S&P Cracks 5,000-Point Level, Enjoys 5th-Straight Winning Week
S&P Cracks 5,000-Point Level
S&P Tops 5,000 Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Monday, February 12, 2024
Markets Fairly Static to Start the Week Advertisment
U.S. stocks hovered near the flatline early Monday following a record-setting week for the S&P 500. Investors also looked ahead to key inflation data and earnings.
The
Dow Jones Industrial Average gained a slight 27.58 points to open Monday at 38,699.27.
The S&P 500 index burrowed ahead 2.42 points to 5,029.03.
The NASDAQ index advanced 22.47 points to 16,013.13.
Salesforce was the biggest drag on the Dow, with the cloud-based software stock sliding 1%. Shares of Hershey slid more than 2% following a downgrade to underweight from Morgan Stanley on the back of softer demand. On the other hand, Diamondback Energy rose 7% after announcing that it would acquire oil and gas producer Endeavor Energy Partners.
Some 61 names in the S&P 500 are set to report earnings in the week ahead, including gig economy stocks Lyft, Instacart and DoorDash. Companies such as AutoNation, Kraft Heinz, Hasbro and Coca-Cola will also shed light on the state of the U.S. consumer.
Prices for the 10-year Treasury sagged, raising yields to 4.19% from Friday's 4.18%. Treasury prices and yields move in opposite directions.
Oil prices were better by 17 cents to $77.01 U.S. a barrel.
Gold prices floundered $9.20 to $2,039.10.
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