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Stock market today: Stocks cap another winning month, S&P 500 logs best May since 2003
· 01.06.2024 · 00:51:10 ··· Samstag ⭐ 18 🎬 1322
📺 Yahoo Finance
#stocks #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed #YahooFinance #investing #stockmarket #crypto
US stocks wrapped the last trading day of the month on a high note, notching the sixth positive month in the last seven for all three major indexes.
The blue-chip Dow Jones Industrial Average (^DJI) rose 1.5%, or about 575 points, shaking off two days of sharp losses. The S&P 500 (^GSPC) rose 0.8%, while the tech-heavy Nasdaq Composite (^IXIC) overcame earlier losses and finished just below the flatline.
The major indexes all broke records for the month. The S&P and Nasdaq posted their best May performances since 2003. And the Dow saw its best May since 2020.
While investors won out on the month, the trading day showed signs of investors taking a breather. Shareholders in Nvidia (NVDA), the AI darling, took an exhale after the company's stock price rose above $1,100. Shares fell around 0.8% Friday as investors took profits on the chip producer as well as other tech giants.
Investors also reacted to an update to the Personal Consumption Expenditures price index, which was seen as pivotal for stocks. The "core" PCE index, which is closely watched by the Fed and strips out the cost of food and energy, rose 0.2% in April, slowing from the 0.3% increase seen in March. Still, the index showed that price increases remained sticky last month.
Bond yields fell after the inflation report, with the benchmark 10-year Treasury (^TNX) falling to around 4.5%.
In individual movers, shares of Trump Media & Technology Group (DJT) fell after former President Donald Trump was convicted on 34 criminal counts related to falsifying business records.
On the corporate front, Dell (DELL) reported a rise in revenue, but its shares plunged 17% as its AI server sales fell short of high hopes. On the flip side, Gap stock (GPS) surged 28% on the heels of a sizable earnings beat.
For more on this article, please visit:
https://finance.yahoo.com/news/stock-market-today-stocks-cap-another-winning-month-sp-500-logs-best-may-since-2003-201504465.html
To get the latest market news check out finance.yahoo.com
· 01.06.2024 · 00:51:10 ··· Samstag
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