Stock Market Overview
Wed, May 8th, 2024
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Stocks See Support as Bond Yields Fall and Earnings Impress
Barchart - Tue May 7, 3:48PM CDT
The S&P 500 Index ($SPX) (SPY) Tuesday closed up +0.13%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.01%.Â
US stock indexes settled mixed on Tuesday, with the S&P 500 posting a 3-week high and the Dow Jones Industrials posting a 4-week high. A decline in the 10-year T-note yield Tuesday to a 3-1/2 week low supported stocks. Also, expectations that the Fed will start cutting interest rates this year are a positive for stocks.Â
Corporate news Tuesday was mixed for stocks. On the positive side, FMC Corp rose more than +9% after forecasting full-year revenue above consensus. Also, GlobalFoundries closed up more than +6% after reporting Q1 adjusted EPS above consensus. In addition, International Paper rose more than +5% after Reuters reported that Suzano approached International Paper with an offer to buy the company for about $15 billion or $42 per share.Â
On the negative side, Builders First... Read more
S&P Futures Tread Water as Investors Await Earnings Reports and Fed Speak
Barchart - 27 minutes ago
June S&P 500 E-Mini futures (ESM24) are trending down -0.01% this morning as market participants geared up for the next round of quarterly results and awaited more comments from Federal Reserve officials....
Fans are following Taylor Swift to Europe after finding Eras Tour tickets less costly there
AP - 29 minutes ago
Thousands of Taylor Swift fans are following her across the pond after missing out on her U.S. concert tour last year or being put off by marked-up ticket prices
DAX Remains In An Impulsive Bullish Cycle As Anticipated
Wavetraders - 34 minutes ago
DAX Remains In An Impulsive Bullish Cycle as anticipated, as we see strong rally that should be finished by five waves from Elliott wave perspective.
Stock market today: Global shares mostly higher after calm day on Wall St
AP - 42 minutes ago
World shares are mostly higher after U.S. stocks held relatively steady on Wall Street
Toyota racks up booming profit, vows to invest to keep growth going
AP - Wed May 8, 1:49AM CDT
Toyota has reported that its profit for the fiscal year that ended in March doubled over a year earlier, as strong vehicles sales and a favorable exchange rate lifted results for Japan’s top automaker...
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