Stocks slipped from record highs as rising Treasury yields on signs of sticky inflation dented rate-cut hopes offsetting an Nvidia-led charge higher in tech stocks.
Stocks closed lower Wednesday, a day after notching a record high as investors digested the minutes from the Federal Reserve May meeting showing concerns about progress on inflation.
Stocks eked out a small gain as the S&P 500 and Nasdaq closed at record highs Tuesday as the intraday dip in tech was bought ahead of eagerly awaited earnings from AI-darling Nvidia due Wednesday.
Stocks traded in tight ranges Monday, with investors cautious ahead of more cues on interest rates and earnings this week. Metals held their Asian session gains with Gold and Copper settling at record highs and Silver pushing to 12-year highs at $32
The Dow closed above 40,000 for the first time ever on Friday, notching a five-week win streak as rate-cut hopes while precious metals soared with copper & Gold making a record highs and silver playing catch-up with gold at new decade highs
The DOW briefly topped 40,000 for the first ever as investors weighed up comments from Fed Williams, a rebound in Treasury yields and a rally in Walmart.
Stock pushed to new highs as consumer inflation cooled more than expected following three months of upside surprises, boosting hopes for sooner rate rates and sending Treasury yields sharply lower
Stocks ignored a hotter-than-expected inflation report as Federal Reserve chairman Jerome Powell said the current level of interest rates is working to curb inflation. In commodities, copper continued its bull run to fresh 2-year highs at $11,000t ($5.05lb) on shortage concerns.
Stocks as investors awaited key inflation report due later this week that will likely play a role in shaping the Federal Reserve’s monetary policy outlook.
Stocks edged higher Friday night to clinch a fourth-weekly win as the broadening out of the rally amid mostly stronger quarterly results continued to support stocks just as signs of sticker inflation and a weaker consumer confuses the outlook for interest rates
The DOW notched its 7th straight gain for the day as slightly higher US jobless claims pushed Treasury yields back to levels prior to rate hike chatter in early April
Another quiet night in markets as stock ended flat due to a bounce in Treasury yields and earnings disappointments from ARM, AirBnB, Uber and Shopify