Stock market today: Late push sends Wall Street mostly higher, closing out another winning month

NEW YORK — Stocks ended mostly higher on Wall Street, closing out the market’s latest winning month. The S&P 500 shook off a midday slump and ended 0.8% higher Friday. Drops for Nvidia and other technology stocks held back the Nasdaq composite, leaving that index just barely in the red. The Dow Jones Industrial Average climbed 1.5%. Treasury yields eased in the bond market after a key measure of inflation remained steady last month.

Nvidia fell for a second straight day, losing 1.1%, as its momentum finally slows after soaring more than 20% since its blowout profit report last week. The chip company was the heaviest weight on the S&P 500 Friday outside of Microsoft’s 1.7% drop and Amazon's 2.5% fall. That could bolster the Federal Reserve’s confidence that inflation is sustainably heading down toward its target, something it says it needs before it will cut its main interest rate.

Friday’s report from the U.S. government showed that growth in spending by consumers weakened by more than economists expected. Growth in incomes for Americans also slowed last month. The two-year Treasury yield, which more closely tracks expectations for Fed action, slipped to 4.88% from 4.93% late Thursday.

Gap leaped to one of the market’s biggest gains, 28.7%, after delivering stronger profit and revenue for the latest quarter than analysts expected. The parent company of Old Navy and Banana Republic reported growth across its brands, reversing earlier declines at most of them. The retailer also raised its forecasts for sales and profitability this year despite saying the outlook for the economy remains uncertain.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stock market today: Wall Street opens higher as an inflation reading comes in as forecastNEW YORK (AP) — U.S. stocks are edging higher after the latest reading on inflation came in roughly as expected, leaving open the question of when Wall Street will get the lower interest rates that it craves. The S&P 500 was 0.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Wall Street drifts as yields ease on cooler economic dataNEW YORK (AP) — U.S. stocks are drifting following mixed profit reports from big companies and signals that the economy may be cooling. The S&P 500 was down 0.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Asian shares track Wall Street's retreatShares retreated Thursday in Asia after U.S. stocks fell under the weight of higher yields in the bond market, with the Dow Jones Industrial Average giving...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Stock market today: Wall Street wilts to trim its May gains as bond yields keep risingNEW YORK (AP) — U.S. stocks closed lower under the weight of higher yields in the bond market. The S&P 500 fell 0.7% Wednesday, sinking further from its record set last week. The Dow Jones Industrial Average lost 1.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Wall Street pulls back, trimming its gains for MayNEW YORK (AP) — Stocks are pulling back and trimming their gains for May. The S&P 500 was 0.8% lower in early trading Wednesday and edging further below its record set last week.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Asian shares decline after a mixed post-holiday session on Wall StreetTOKYO (AP) — Asian shares were mostly lower Wednesday after a mixed session on Wall Street following a three-day holiday weekend.
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »