Dow Flirts With 40K, Stocks Flat

(MENAFN- Baystreet) Dow Continues to Pursue 40K

  • Futures Edge Higher After Record Day
  • Indices Close at Record Highs
  • NASDAQ, S&P at All-Time Highs on Soft Inflation Report
  • NASDAQ, S&P at All-Time Highs Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Thursday, May 16, 2024

    Dow Flirts with 40K, Stocks
    Flat Advertisment
    were little changed Thursday, as the DowJones
    Industrial Average tried to reach a key milestone.
    The 30-stock index
    inched down 0.91 points to 39,907.09.
    Thursday's moves put the Dow less than 100 points from 40,000 - a level it has never reached. They come a day after a broad market surge that drove the S&P500
    above 5,300 for the first time.
    The S&P500
    eked higher 4.55 points, or 1.2%, to 5,312.70.
    The NASDAQ Composite gained 19.41 points to 16,761.80.
    Shares of Walmart were up more than 5% after the retailer reported better-than-expected quarterly results.
    That performance was helped by the April reading of the consumer price index
    , a broad measure of how much goods and services cost at the cash register, which increased 0.3% from the prior month. That was slightly below the DowJones
    estimate of 0.4%. Consumer prices still grew 3.4% from a year ago.
    Prices for the 10-year Treasury inched back, raising yields to 4.37% from Wednesday's 4.35%. Treasury prices and yields move in opposite directions.
    Oil prices gained $1.02 to $79.65 U.S. a barrel.
    Gold prices erased $14.20 to $2,380.70.

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