(MENAFN- Baystreet) Stocks Weighed by Tech Weakness
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 Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Wednesday, May 8, 2024
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The Dow Jones Industrial Average traded higher Wednesday, trying to extend its winning streak to six days, as investors shook off some weakness in tech.
The 30-stock index edged ahead 81.59 points to 38,965.85, putting the index on track for its best daily positive streak since December.
The S&P 500 subtracted 4.39 points to 5,183.31.
The NASDAQ fell 37.25 points to 16,298.31.
Uber shares fell 8.7% after the rideshare company's posted a surprising net loss and weaker-than-expected bookings revenue, while Intel lost more than 2.5% after the chipmaker lowered its second-quarter revenue guidance.
Tesla shares dipped 2% 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.
Prices for the 10-year Treasury sagged, raising yields to 4.48% from Tuesday's 4.42%. Treasury prices and yields move in opposite directions.
Oil prices removed 43 cents to $78.81 U.S. a barrel.
Gold prices recovered $2.50 to $2,326.70.
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