S&P 500, Nasdaq barely extend win streaks as investors eye yields, Fed comments

S&P 500, Nasdaq barely extend win streaks as investors eye yields, Fed comments

The S&P 500 and Nasdaq continued their winning streaks as investors analyzed recent comments from Federal Reserve officials and monitored Treasury yields. The decline in Treasury yields has contributed to a stock rally, with the S&P 500 and Nasdaq experiencing their longest streaks of gains in two years. Market expectations now indicate a 50% chance of a rate cut in May. However, uncertainty remains as some central bank officials have left the possibility of additional rate hikes open. Investors are closely watching yields and economic data to determine the future direction of the market.

The Dow Jones Industrial Average fell, ending its seven-session winning streak. Fed Chair Jerome Powell did not comment on monetary policy during a conference, and longer-dated yields decreased after an acceptable $40 billion auction. Eli Lilly shares rose after the FDA approved the company’s weight loss treatment. Warner Bros Discovery saw a significant drop in its stock price due to concerns about Hollywood strikes and a weak advertising market. Take-Two Interactive Software experienced a jump in its stock price after announcing the release of a trailer for its new “Grand Theft Auto” videogame. Lucid Group stumbled after reducing its production forecast.

Declining issues outnumbered advancers on both the NYSE and Nasdaq. The S&P 500 and Nasdaq recorded new highs, while the Nasdaq also had a significant number of new lows. The volume on U.S. exchanges was slightly lower than the average for the past 20 trading days.

Overall, the market remains focused on the path of interest rates, Treasury yields, and economic data. The outcome of these factors will determine the future direction of the market.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

Have a tip we should know? tips@rhd.news

Most Read

  1. News
    Pandora Papers Financial Leak Shows Us the Secrets of the World’s Rich and Powerful
    2 years ago
  2. Health
    US Supreme Court Rejects J & J TALC Cancer Case Appeal
    3 years ago
  3. Lifestyle
    9 Habits that Drain your Daily Focus and How to Avoid Them
    3 years ago
    Women’s Demand for Shapewear – the big Trends
    3 years ago
    Valentino Launches its Cosmetics Line
    3 years ago
  6. Health
    US Promises to Share 60 million Doses of AstraZeneca Vaccines
    3 years ago
  7. Health
    UK Offers Aid Amid Surging COVID-19 Cases in India
    3 years ago
  8. Sports
    Thousands of fans welcome Charlton funeral cortege at Old Trafford
    4 weeks ago
  9. News
    Brit left fighting for life after train derails in Argentinia
    4 weeks ago
    Dubai faces down airline rivals with $50 bln jet orders
    4 weeks ago
  11. Sunak
    UK’s Sunak brings back Cameron, sacks Braverman
    4 weeks ago
  12. Sports
    Man United’s Hojlund, Eriksen withdrawn from Denmark team duty
    4 weeks ago
  13. Health
    Autumn Sneezing Syndrome is on the rise… here’s what you can do
    4 weeks ago
  14. Canada
    Canada beat Italy to win Billie Jean King Cup for first time
    4 weeks ago

Follow @rushhourdaily: