Stock market today: Dow pops for 7th straight day as S&P 500 climbs back above 5,200
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US stocks rose Thursday as more evidence showed the US labor market continued to cool, reviving hopes for a rate cut by the fall. The Dow Jones Industrial Average (DJIA) rose about 0.9%, or almost 350 points, extending its winning streak to seven trading sessions. The S&P 500 (^GSPC) gained 0.5%, moving back above the 5,200 closing level for the first time since April 9. The tech-heavy Nasdaq Composite (^IXIC) rose 0.2%. Weekly jobless claims data released on Thursday came in at 231,000, an increase of 22,000 from the prior week and the highest level since August. In the corporate world, a downbeat annual revenue forecast from Arm cast doubt on the hopes for AI growth that have boosted chip stocks. The chip designer's shares fell around 2%, with sector peers Nvidia and AMD also down slightly. Real Estate and Utilities led the sector action, while Technology and Communications Services lagged the S&P 500. Mortgage rates slipped for the first time in over a month, with the 30-year fixed mortgage rate hitting 7.09%. Economic data is softening, but 'we're still a long way from recession'. Warner Bros. Discovery 'always looking at opportunities' amid Paramount buyout talks. Roblox shares fell roughly 21% after the gaming platform slashed its annual bookings forecast, raising concerns of lower player engagement. S&P 500 breaks back above 5,200. Major averages in green territory, Dow jumps 200 points. Jobless claims hit highest level since August 2023. The one line of caution in Tapestry's earnings report. Ahead of key CPI data release next week, one grocer weighs in. Hard to poke holes in Robinhood's quarter.
#StockMarket #DowJones #S&p500 #UsLaborMarket #RateCut #WeeklyJoblessClaims #Arm #AiGrowth #ChipStocks #RealEstate #Utilities #Technology #CommunicationsServices #MortgageRates #EconomicData #Recession #WarnerBrosDiscovery #ParamountBuyoutTalks #Roblox #Tapestry #CpiData #Robinhood
https://finance.yahoo.com/news/live/stock-market-today-dow-pops-for-7th-straight-day-as-sp-500-climbs-back-above-5200-200020212.html
Yahoo Finance /
npub1j0e…3yhd
2024-05-09 23:17:46
Author Public Key
npub1j0e6zhr82q4par2f4ecr67zvj0ltv8qgqr8v3llw2ed6qvdrm4fs9s3yhdPublished at
2024-05-09 23:17:46Event JSON
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"content": "Stock market today: Dow pops for 7th straight day as S\u0026P 500 climbs back above 5,200\n==========\n\nUS stocks rose Thursday as more evidence showed the US labor market continued to cool, reviving hopes for a rate cut by the fall. The Dow Jones Industrial Average (DJIA) rose about 0.9%, or almost 350 points, extending its winning streak to seven trading sessions. The S\u0026P 500 (^GSPC) gained 0.5%, moving back above the 5,200 closing level for the first time since April 9. The tech-heavy Nasdaq Composite (^IXIC) rose 0.2%. Weekly jobless claims data released on Thursday came in at 231,000, an increase of 22,000 from the prior week and the highest level since August. In the corporate world, a downbeat annual revenue forecast from Arm cast doubt on the hopes for AI growth that have boosted chip stocks. The chip designer's shares fell around 2%, with sector peers Nvidia and AMD also down slightly. Real Estate and Utilities led the sector action, while Technology and Communications Services lagged the S\u0026P 500. Mortgage rates slipped for the first time in over a month, with the 30-year fixed mortgage rate hitting 7.09%. Economic data is softening, but 'we're still a long way from recession'. Warner Bros. Discovery 'always looking at opportunities' amid Paramount buyout talks. Roblox shares fell roughly 21% after the gaming platform slashed its annual bookings forecast, raising concerns of lower player engagement. S\u0026P 500 breaks back above 5,200. Major averages in green territory, Dow jumps 200 points. Jobless claims hit highest level since August 2023. The one line of caution in Tapestry's earnings report. Ahead of key CPI data release next week, one grocer weighs in. Hard to poke holes in Robinhood's quarter.\n\n#StockMarket #DowJones #S\u0026p500 #UsLaborMarket #RateCut #WeeklyJoblessClaims #Arm #AiGrowth #ChipStocks #RealEstate #Utilities #Technology #CommunicationsServices #MortgageRates #EconomicData #Recession #WarnerBrosDiscovery #ParamountBuyoutTalks #Roblox #Tapestry #CpiData #Robinhood\n\nhttps://finance.yahoo.com/news/live/stock-market-today-dow-pops-for-7th-straight-day-as-sp-500-climbs-back-above-5200-200020212.html",
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