Stock Market Overview
Thu, May 2nd, 2024
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Strength in Chips Stocks Leads the Overall Market Higher
Barchart - Thu May 2, 3:33PM CDT
The S&P 500 Index ($SPX) (SPY) Thursday closed up +0.91%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.85%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.29%.
US stock indexes settled moderately higher on Thursday. A +9% surge in Qualcomm led chip stocks higher Thursday and boosted the overall market after it reported stronger-than-expected Q2 EPS and forecast Q3 EPS above consensus. The broader market also had carryover support from Wednesday when Fed Chair Powell said it’s unlikely the Fed’s next move would be to raise interest rates. Stocks are awaiting earnings results from Apple after Thursday’s close and from Friday’s monthly US payroll report for further direction.
Stocks also garnered support Thursday after the Organization for Economic Cooperation and Development (OECD) raised its 2024 global growth forecast to +3.1% from a February estimate of +2.9% and said risks are becoming "better balanced."
Stock indexes maintained their gains... Read more
E-waste is overflowing landfills. At one sprawling Vietnam market, workers recycle some of it
AP - 1 hour ago
The world is producing more electronic waste than ever — 62 million metric tons in 2022
Comcast blacks out 15 regional sports networks in contract dispute with distributor
AP - Thu May 2, 8:18PM CDT
Comcast has blacked out 15 regional sports networks offered by Bally Sports, escalating a contract dispute with their distributor
Japan's Kishida unveils a framework for global regulation of generative AI
AP - Thu May 2, 8:17PM CDT
Japanese Prime Minister Fumio Kishida has unveiled an international framework for regulation and use of generative AI
Global Citizen NOW urges investment in Sub-Saharan Africa and youth outreach
AP - Thu May 2, 7:10PM CDT
Global Citizen NOW says it wants 2024 conference attendees to invest long-term in the African continent's fast-growing youth population and increase outreach to young changemakers
Berkshire Hathaway board feels sure Greg Abel is the man to eventually replace Warren Buffett
AP - Thu May 2, 7:06PM CDT
Everyone knows Warren Buffett’s successor won’t be able to match the legendary investor
3 Energy Dividend Stocks to Invest in Oil's 'Higher for Longer' Scenario
Barchart - Thu May 2, 6:30PM CDT
Discover how Schlumberger, Baker Hughes, and Halliburton are leveraging their robust financial health and strategic initiatives to thrive in a market where oil prices are expected to remain elevated, in...
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