(MENAFN- Baystreet) Futures Little Changed Following Dow's Longest Streak Since December
Dow Posts Longest Win Streak Since December
Dow Gains as Treasurys Travel Upward
Dow Aiming for 5 Straight Wins
Dow Tries to Add to Streak Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Wednesday, May 8, 2024
Stocks Weighed by Tech Weakness Advertisment
Stocks fell Wednesday as pressure on several tech names put the Dow Jones Industrial Average and S&P 500 to snap their recent winning streaks.
The 30-stock index edged ahead 11.12 points to open at 38,895.38.
The S&P 500 subtracted 7.04 points to 5,180.06.
The NASDAQ fell 46.71 points to 16,285.84.
Uber shares fell 8.5% after the rideshare company's posted a surprising net loss and weaker-than-expected bookings revenue, while Intel lost more than 2% after the chipmaker lowered its second-quarter revenue guidance.
Tesla shares dipped 4% after Reuters reported that U.S. prosecutors are looking into whether the company committed wire fraud as part of a probe into Tesla's Autopilot systems.
Chip stocks were down broadly as well. Nvidia lost about 1% along with AMD. The VanEck Semiconductor ETF (SMH) fell slightly.
Wednesday's declines could lead the Dow to snap a five-day winning streak, its longest since December. The S&P 500 has risen for four straight days.
Prices for the 10-year Treasury sagged, raising yields to 4.49% from Tuesday's 4.42%. Treasury prices and yields move in opposite directions.
Oil prices removed 50 cents to $77.88 U.S. a barrel.
Gold prices docked $6.80 to $2,317.40.
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
MENAFN08052024000212011056ID1108188964
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.