Dow Logs 4 Straight as Stocks Extend Friday's Gains

A possible ceasefire in between Israel and Hamas could impact stocks tomorrow

Managing Editor
May 6, 2024 at 4:28 PM
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Stocks settled higher today, building on Friday's outperformance. The upbeat sentiment from last week's positive jobs data, plus a fresh batch of fresh earnings reports today, has investor optimism returning after a rough start to the second quarter. All three indexes finished in the black, with the Dow logging its fourth consecutive gain and highest close since April 9. The S&P 500 and Nasdaq nabbed three straight wins of their own. 

In the Middle East, Hamas reportedly accepted a cease fire deal with Egyptian-Qatari governments, though Israel's decision has yet to be recorded. Acceptance from the latter could end the seven-month war that has rocked the region. 

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

  • Auto stock revs its engine before earnings.
  • Stay weary of Roku stock right now.
  • Plus, Disney's earnings preview; PLTR fireworks; and a new SPX member. 

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5 Things to Know Today

  1. Former Starbucks (SBUX) CEO Howard Schultz is pointed the finger at the company's lack of fluid operations in its U.S. branches for their latest disappointing quarterly earnings. (MarketWatch)
  2. MIT and Harvard University are giving students participating in pro-Palestine encampments an ultimatum to clear out or risk suspension. (Bloomberg)
  3. Disney stock has an upbeat post-earnings record.
  4. Palantir earnings usually mean big stock moves.
  5. Vistra stock is joining the big leagues.

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Oil, Gold Enjoy Notable Wins

Geopolitical uncertainty sent oil prices higher, but off their session highs. June-dated West Texas Intermediate (WTI) crude added 37 cents, or 0.5%, to settle at $78.48 a barrel.

Gold prices moved higher amid a softening dollar. June-dated gold futures moved 1.1%  higher, to trade at $2,334.70 per ounce, at last check.  

 

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