Stock Market Overview
Wed, May 29th, 2024
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Stocks See Support from Chip Stocks But T-Note Yield Rises
Barchart - Tue May 28, 3:58PM CDT
The S&P 500 Index ($SPX) (SPY) Tuesday closed up +0.02%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.55%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.32%.Â
US stock indexes settled mixed on Tuesday, with the Dow Jones Industrials posting a 3-week low. A +6% jump in Nvidia led chip stocks higher and supported the broader market. Also, Tuesday’s unexpected increase in US May consumer confidence supported the US economy and stocks.
However, a jump in the 10-year T-note yield on Tuesday to a 3-week high weighed on the overall market. T-note yields rose after Minneapolis Fed President Kashkari said the US economy has remained "remarkably resilient" and the Fed should monitor whether inflation is slowing enough to warrant interest rate cuts. T-note yields jumped to their highs Tuesday afternoon on tepid demand for the Treasury’s 2-year and 5-year T-note auctions.
Increased M&A activity is supportive of stocks. Energy Transfer LP on Tuesday ag... Read more
IMF upgrades its forecast for China's economy, but says reforms are needed to support growth
AP - 33 minutes ago
The International Monetary Fund has upgraded its forecast for China's economy, while warning that reforms are needed to sustain growth
Owner of UK's Royal Mail says it has accepted a takeover offer from a Czech billionaire
AP - 1 hour ago
The owner of Britain’s Royal Mail says it has accepted a 3.6 billion pound ($4.6 billion) takeover offer from Czech investor Daniel KÅ™etÃnský
Stock market today: Asian shares decline after a mixed post-holiday session on Wall Street
AP - Wed May 29, 1:34AM CDT
Shares have fallen across Asia after a mixed session on Wall Street
Stock market today: Asian shares decline after a mixed post-holiday session on Wall Street
AP - Tue May 28, 11:12PM CDT
Asian shares are mostly lower after a mixed session on Wall Street
Melinda French Gates to donate $1 billion over next 2 years in support of women's rights
AP - Tue May 28, 7:49PM CDT
Melinda French Gates says she will be donating $1 billion over the next two years to individuals and organizations working on behalf of women and families globally, including on reproductive rights in...
Should Nvidia Consider Paying a Special Dividend in 2024 to Reward Shareholders?
Barchart - Tue May 28, 6:30PM CDT
Nvidia's dividend hasn't kept pace with its earnings growth, and after accounting for the steep rise in its share price, the company's dividend yield is a mere 0.038%. Should NVDA consider a special dividend...
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