Stock market today: Dow finishes above 40,000 to cap Wall Street’s latest winning week
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The Dow Jones Industrial Average finished above the 40,000 level for the first time, rising 134.21 points, or 0.3%, to 40,003.59. The S&P 500 added 6.17 points, or 0.1%, to 5,303.27, just 0.1% shy of its record. The Nasdaq composite slipped 12.35 points, or 0.1%, to 16,685.97. Reddit jumped 10% after announcing a partnership with OpenAI. GameStop dropped 19.7% after announcing it expects to report a loss of up to $37 million. AMC Entertainment also issued shares to wipe out some debt. Renaissance Technologies, the hedge fund founded by Jim Simons, revealed it bought shares of both GameStop and AMC Entertainment. Treasury yields ticked higher, and stock indexes around the world were mixed. Some economists caution that optimism about the Federal Reserve cutting interest rates may be going too far. In the bond market, the yield on the 10-year Treasury rose to 4.41% from 4.38% late Thursday. The two-year yield edged up to 4.82% from 4.80%.
#DowJonesIndustrialAverage #S&p500 #NasdaqComposite #Reddit #Openai #Gamestop #AmcEntertainment #RenaissanceTechnologies #JimSimons #FederalReserve #TreasuryYields #InterestRates
https://apnews.com/article/stock-market-china-inflation-7f8c98dcc72882199b0688b693a3a7e6
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