Dow Leaps for 6th Straight Positive Session
May 08,2024 04:28 pm EST
The Dow Jones Industrial Average climbed on Wednesday, extending its winning streak to six days, as investors shook off some weakness in tech.
The 30-stock index hiked 172.13 points to 39,065.39.
The S&P 500 crept back 0.03 points to 5,187.67.
The NASDAQ fell 29.8 points to 16,302.76.
Uber shares fell 5.7% after the ride-share company posted a surprising net loss and weaker-than-expected bookings revenue, while Intel lost more than 2% after the chipmaker lowered its second-quarter revenue guidance. Tesla shares dipped 1.7% after Reuters reported that U.S. prosecutors are looking into whether the company committed wire fraud as part of a probe into Tesla's Autopilot systems.
Amgen and JPMorgan Chase were the biggest contributors of gains to the Dow, advancing more than 2% each.
Prices for the 10-year Treasury sagged, raising yields to 4.5% from Tuesday's 4.42%. Treasury prices and yields move in opposite directions.
Oil prices revived 80 cents to $79.18 U.S. a barrel.
Gold prices sank $8.30 to $2,315.90.
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