Stocks Post Strong Gains Amid Earnings Rush

Investors are looking ahead toward tomorrow's jobs data

Laura McCandless

Deputy Editor

May 2, 2024 at 4:24 PM

Stocks rose across the board today, with both the Dow and Nasdaq adding triple digits, the former scoring its biggest single-session pop since March 27. Investors continued to mull over yesterday's Fed decision and commentary, while unpacking today's flood of corporate earnings reports. Big tech stocks enjoyed a boost as bond yields fell, as Wall Street's attention now shifts toward tomorrow's nonfarm payrolls report for April.

Continue reading for more on today's market, including:

2 tech stocks swinging sharply in opposite directions.
Dow stock brushing historically bullish trendline.
Plus, three stocks moving outsized moves after earnings.

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5 Things to Know Today

Sony Global (SONY) and Apollo Global (APO) made a $26 billion offer to purchase Paramount Global (PARA). (Bloomberg)
Electric vehicle maker Rivian Automotive (RIVN) received $827 billion from the state of Illinois to expand its plant, lifting the stock in turn. (MarketWatch)
Job cuts couldn't save Peloton stock today.
Disappointing profit forecast dings food delivery name.
Carvana stockmay be having the best 12 months on Wall Street.

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Oil, Gold Edge Lower

U.S. oil prices moved lower the second day, though prices rose globally. June-dated West Texas Intermediate (WTI) crude fell 5 cents, or nearly 0.1%, to settle at $78.95 a barrel on the New York Mercantile Exchange.

Gold prices inched lower as well, with June-dated gold futures dropping 0.1% lower to settle at $2,309.60.

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