(MENAFN- Baystreet) Dow Moves Downward After Topping 40K for First Time
Dow Continues to Pursue 40K
Dow Flirts with 40K,
Stocks Flat
Futures Edge Higher After Record Day
indices Close at Record Highs Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Friday, May 17, 2024
Dow Futures Little Changed Advertisment
Futures tied to the
Dow Jones Industrial Average traded near flat Friday, after the blue-chip average briefly topped the key 40,000 level for the first time in the previous session.
Futures for the 30-stock
index inched ahead 24 points, or 0.1%, to 40,034.
Futures for the S&P 500 gained only four points, or 0.1%, at 5,324.25.
Futures for the NASDAQ Composite took on 27.25 points, or 0.2%, to 18,677.
Despite the weak end to Thursday's session, the indexes are on track to end the week with gains. The NASDAQ Composite is leading the way with a 2.2% advance, followed by the S&P 500's 1.4% rise. The Dow is tracking to close the week 0.9% higher.
Shares of video game company Take-Two Interactive were under pressure on Friday morning after an update about the timing of one of its premier franchises.
Take-Two says that the next Grand Theft Auto is now scheduled for the fall of 2025. Previous guidance just called for sometime during the calendar year.
While it was a modestly down day for the three major averages, there was no shortage of excitement among market participants. The Dow reached an intraday high of 40,051.05, above the psychologically important 40,000 level, before pulling back to end the day down 0.1%.
In Japan, the Nikkei 225 sank 0.3%, while in Hong Kong, the Hang Seng index gained 0.9%.
Oil prices jumped 27 cents to $79.50 U.S. a barrel.
Gold prices gained $8.10 to $2,393.40 U.S. an ounce.
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