Dow on Longest Winning Streak of the Year

Investors are still seeking clues regarding the Fed's future interest rate moves

Deputy Editor
May 7, 2024 at 4:26 PM
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Stocks were all over the place today, as investors weighed cooling bond yields with a sharp post-earnings move from Walt Disney (DIS). Despite the blue-chip's drawdown, the Dow logged a fifth-straight win and is now on its longest win streak since December. The S&P 500 pared healthier gains to finish just above breakeven, while the tech-heavy Nasdaq pivoted into the red at the close. Despite today's choppiness, the Cboe Volatility Index (VIX) logged its fourth loss in the last five sessions.

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

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5 Things to Know Today

  1. TikTok is suing the U.S. government. (CNBC)
  2. Private equity investment groups could soon buy as much as 30% of NFL franchises. (Bloomberg)
  3. Software stock has room to run higher.
  4. Analyst sings Target stock's praises.
  5. Gap stock scores big upgrade.

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Oil Prices Bounce from Mid-March Lows

Oil prices finished lower, but bounced off their lowest mark since mid-March. This pop came after Russian Deputy Prime Minister Alexander Novak implied a raise in crude product from Organization of the Petroleum Exporting Countries (OPEC+). June-dated West Texas Intermediate (WTI) crude fell 10 cents, or 0.1%, to settle at $78.38 a barrel.

Gold prices, meanwhile, moved higher. June-dated gold futures added $22.60 to trade at $2,331.20 per ounce, at last check.  

 

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