Dow Pursues 40K, Stocks Flat

(MENAFN- Baystreet) Dow Pursues 40K, Stocks Flat

  • Dow Futures Little Changed
  • Dow Moves Downward After Topping 40K for First Time
  • Dow Continues to Pursue 40K
  • Dow Flirts with 40K, Stocks Flat Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Friday, May 17, 2024

    Dow Pursues 40K, Stocks Flat Advertisment
    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.
    The 30-stock index inched higher 6.29 points to 39,875.69.
    The S&P 500 eked up 1.04 points to 5,298.14.
    The NASDAQ Composite added 5.68 points to 16,704.01.
    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.
    This week's ascent has helped propel the three indexes into positive territory for the second quarter despite a tough start. The S&P 500 and NASDAQ are now each up more than 11% in 2024, while the Dow has climbed more than 5% on the year.
    Shares of Reddit rallied 10.5% after announcing a partnership with OpenAI. Under the deal, Reddit will gain certain artificial intelligence features powered by OpenAI, while the ChatGPT maker will gain access to Reddit's Data application programming interface to train its AI models.
    Take-Two Interactive Software were down more than 2% after an update about the timing of the new Grand Theft Auto game. Take-Two says the game will now come out in the fall of 2025. Previous guidance called for sometime in the 2025 year.
    Prices for the 10-year Treasury slipped, raising yields to 4.40% from Thursday's 4.38%. Treasury prices and yields move in opposite directions.
    Oil prices eked higher six cents to $79.29 U.S. a barrel.
    Gold prices moved ahead $20.90 to $2,406.40.

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