Dow Charges 284 Points Higher, Brushing Off Powell Uncertainty

The S&P 500 and Nasdaq closed with gains as well

Emma Duncan

Managing Editor

May 7, 2025 at 4:24 PM

Following two days of losses, all three major indexes finished the volatile, Fed-focused session with gains. The Dow Jones Industrial Average (DJI) jumped 284 points, while the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) closed modestly higher as well. The Federal Reserve kept its overnight borrowing rate steady as expected, between 4.25% and 4.5%, while Fed Chair Jerome Powell highlighted economic uncertainty, warning against price increases and economic slowdowns due to tariffs.

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

Behind Upstart stock's slide today.
2 notable tech earnings reports.
Plus, the S&P's bullish outside day; EV stocks to watch; and UBER's major revenue miss.

5 Things to Know Today

Netflix (NFLX) revealed several major branding and tech updates to its app, including a fresh AI tool for users. (CNBC)
At least 31 people have been killed in an airstrike by India against Pakistan, as tensions continue to increase. (Bloomberg)
What a bullish outside day means for this major benchmark.
A pair of EV stocks to watch today.
Uber stock drives lower on revenue miss.

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Oil and Gold Suffer Post-Fed Losses

Worries surrounding the stabilization of the economy's future pressured oil prices. June-dated West Texas Intermediate (WTI) oil lost $1.02, or 1.73%, to settle at $58.07 per barrel.

A steady interest rate from the Fed and a firm dollar pushed gold futures lower today. June-dated gold shed 0.7% to closed near $3,399.10 an ounce.

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