Stock market today: Wall Street squeaks higher to set more records

NEW YORK — U.S. stock indexes drifted higher to set more records following another quiet day of trading. The S&P 500 rose 0.3% Tuesday to surpass its record set last week. The Nasdaq composite added 0.2%, a day after setting its latest all-time high. The Dow Jones Industrial Average rose 0.2% and is sitting just below its record set last week. Macy’s jumped after it joined the long list of companies reporting better profit for the latest quarter than analysts expected.

Lam Research helped support the market after the supplier for the semiconductor industry announced a program to buy back up to $10 billion of its own stock. The company also said it will undergo a 10-for-one stock split, which would bring down each share's price and make it more affordable to more investors. Its stock rose 2.2%.

Lowe’s fell 2.6% despite reporting better results for the latest quarter than analysts had feared. It said it’s maintaining its forecast for revenue this year, including a dip of up to 3% for an important underlying sales figure as high interest rates keep a lid on customer activity. An encouraging report released last week showing inflation may finally be heading back in the right direction following a discouraging start to the year raised hopes that such a “soft landing” for the economy may be possible. It also strengthened hopes that the Federal Reserve will cut its main interest rate once or twice this year.

Hopes for coming cuts to rates have sent Treasury yields lower, which eases the pressure on the stock market. The yield on the 10-year Treasury slipped to 4.41% from 4.48% late Monday. The two-year yield, which more closely tracks expectations for Fed actions, slipped to 4.83% from 4.85%.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Nasdaq, S&P pop to records as Wall Street waits for Nvidia earningsInvestors biding their time for Nvidia results looked to retail earnings and Fedspeak for clues to the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street holds steady near record levelsNEW YORK (AP) — U.S. stocks are holding relatively steady near their record levels as Wall Street appears to be headed for another quiet day. The S&P 500 was down 0.1% early Tuesday.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts to a mixed close as Nasdaq notches another recordNEW YORK (AP) — U.S. stock indexes drifted to a mixed finish after a quiet day of trading, and the Nasdaq composite rose to another record. The Nasdaq climbed 0.7% Monday. The S&P 500 edged up by 0.1% to finish just short of its all-time high.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street opens mixed after its latest winning weekNEW YORK (AP) — Wall Street is opening on a quiet note following its latest winning week. The S&P 500 was up 0.1% in early trading Monday. The Dow Jones Industrial Average was little changed, and the Nasdaq composite was up 0.2%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Asian stocks advance after Wall Street closes out another winning weekHONG KONG (AP) — Asian stocks advanced Monday after U.S. stock indexes drifted around their records on Friday with the Dow Jones Industrial Average closing...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow finishes above 40,000 to cap Wall Street's latest winning weekThe Dow Jones Industrial Average finished a day above the 40,000 level for the first time on Friday as U.S. stock indexes drifted around their records while closing out their latest winning week.
Source: CTVNews - 🏆 1. / 99 Read more »