Dow Hits New Record on U.S.-China Trade Deal Hopes
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Live Updates Live Coverage Updates appear automatically as they are published. Updates will appear here as they are published. Markets are pushing aggressively higher again. At the moment, futures are exploding.
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Stock Market Today: Dow Rises On Trade Deal Optimism; Broadcom, Nvidia, Palantir, Tesla Rally (Live Coverage)
The 10-year Treasury yield ticked higher to 4.03%. And oil prices dipped, as West Texas Intermediate futures traded around $61.30 a barrel. Among exchange traded funds, the Invesco QQQ TrustQQQ was up 1.3%. Also, the SPDR S&P 500 ETFSPY moved up 0.8% ahead of Monday's market open.
U.S. stocks traded higher Monday afternoon, on track to close at record highs, as investors embraced "wave after wave of good news," said Louis Navellier, chairman and founder at Navellier & Associates.
The stock market rally has already defied expectations this year, shrugging off geopolitical strife, economic uncertainty and global trade tensions to reach fresh record highs. Some analysts say the rally might just be getting started.
A selloff in speculative parts of the stock market turned into a broad market slide on Wednesday. The Nasdaq Composite dropped 0.9%. The S&P 500 fell 0.6%. The Dow Jones Industrial Average dropped 334 points, or 0.7%. All three indexes pared some losses from their lows of the day.
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Tesla posted record quarterly revenue but its profit came in below Wall Street's expectations. The stock fell 4% after hours during the analyst call.
Dow, S&P 500, and Nasdaq futures are rising in premarket trading as the stock market awaits the CPI inflation report.
Dow industrials rise to record, while shares in General Motors and 3M rally after results
Equities fell on Wednesday as the first of the Magnificent Seven stocks — Tesla — prepares to deliver earnings results after the market's close.
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