Ris News-Digital - Promo

S&P Tries to Recover from 4-Day Slump


The S&P 500 gyrated on Thursday as Wall Street attempted to recover its footing amid a losing streak for the benchmark index. Investors also continued parsing the latest corporate earnings reports.

The Dow Jones Industrials popped 240.03 points to 37,993.64.

The much-broader index gained 15.2 points to 5,037.41.

The NASDAQ regrouped 24.3 points to 15,707.67.

The major averages are tracking for a losing week, the latest leg down amid the recent market pullback. The Dow has inched down 0.1% since the start of the week, while the S&P 500 has slid almost 2%.

The NASDAQ has tumbled more than 3% as technology shares struggled. That puts the index on pace for its fourth straight down week, which would mark the longest negative streak since December 2022.

Credit bureau Equifax declined more than 9% in Thursday’s session on disappointing second-quarter guidance. Homebuilder D.R. Horton advanced more than 4% after quarter financials topped expectations.

More than 12% of S&P 500-listed companies have now reported earnings in what’s shaping up to be a positive season. Of those that have already posted results, 73% have surpassed Wall Street expectations for their individual performances, according to FactSet.

With Thursday’s action, the S&P 500 and NASDAQ flirted with their fifth straight down session. That would mark the longest losing streaks for each since October and January, respectively.

Prices for the 10-year Treasury fell, raising yields to 4.63% from Wednesday’s 4.58%. Treasury prices and yields move in opposite directions.

Oil prices nicked up a penny to $82.70 U.S. a barrel.

Gold prices gained $6.90, to $2,395.30 U.S. an ounce.



Source link

About The Author

Scroll to Top