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Stocks Rise As Dow Builds On Last Week's Performance
(MENAFN- Baystreet) Stocks Rise as Dow Builds on Last Week's Performance Futures Up Slightly After Best Week of Year Dow Runs Streak to 8, Best Week of Year Dow Aims for 8 in Row Stocks Push Higher, Dow Aims for 8 in Row Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Monday, May 13, 2024 Stocks Rise as Dow Builds on Last Week's Performance Advertisment
Stocks were little changed Monday as traders grappled with rising inflation expectations ahead of key reports due later in the week.
The Dow Jones Industrials dropped 8.6 points to 39,504.24.
The S&P 500 inched ahead 3.2 points to 5,225.88
The NASDAQ gained 56.61 points to 16,397.47.
The 30-stock Dow is coming off its best weekly performance of 2024, rising more than 2% last week. The S&P 500 and NASDAQ climbed more than 1% each during that period.
Shares of meme stock GameStop soared 87% after“Roaring Kitty,” the moniker of the Reddit trader behind 2021's short squeeze, posted online for the first time in three years.
Investors will look for insights into the Federal Reserve's monetary policy moving forward with April's consumer price index report due out on Wednesday. Traders hope that a return to rate hikes is largely off the table for the Fed despite a slew of hotter-than-expected inflation prints in recent months.
Prices for the 10-year Treasury gained ground, pushing yields down to 4.47% from Friday's 4.50%. Treasury prices and yields move in opposite directions.
Oil prices regained 71 cents to $78.97 U.S. a barrel.
Gold prices ditched $31.90 to $2,343.10.
Stocks Rise as Dow Builds on Last Week's Performance
Stocks were little changed Monday as traders grappled with rising inflation expectations ahead of key reports due later in the week.
The Dow Jones Industrials dropped 8.6 points to 39,504.24.
The S&P 500 inched ahead 3.2 points to 5,225.88
The NASDAQ gained 56.61 points to 16,397.47.
The 30-stock Dow is coming off its best weekly performance of 2024, rising more than 2% last week. The S&P 500 and NASDAQ climbed more than 1% each during that period.
Shares of meme stock GameStop soared 87% after“Roaring Kitty,” the moniker of the Reddit trader behind 2021's short squeeze, posted online for the first time in three years.
Investors will look for insights into the Federal Reserve's monetary policy moving forward with April's consumer price index report due out on Wednesday. Traders hope that a return to rate hikes is largely off the table for the Fed despite a slew of hotter-than-expected inflation prints in recent months.
Prices for the 10-year Treasury gained ground, pushing yields down to 4.47% from Friday's 4.50%. Treasury prices and yields move in opposite directions.
Oil prices regained 71 cents to $78.97 U.S. a barrel.
Gold prices ditched $31.90 to $2,343.10.
Stocks Rise as Dow Builds on Last Week's Performance
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