Dow Pops To New Record

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S&P Hits Record High to Start Week

  • Markets Fairly Static to Start the Week
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  • S&P Cracks 5,000-Point Level Subscribe to Get Small Cap News & Alerts Glenn Wilkins – Monday, February 12, 2024 Dow Pops to New Record Advertisment
    The Dow Jones Industrial Average rose to a new high on Monday as investors awaited fresh inflation and earnings data.
    The blue-chip index shot up 125,68 points to close Monday at 38,797.38.
    The S&P 500 index slid 4.77 points to 5,021,84.
    The NASDAQ index dumped 48.12 points to 15,942.55.
    Salesforce dragged the Dow lower, with the cloud-based software stock sliding 1.4%. Shares of Hershey slipped less than 1% following a downgrade to underweight from Morgan Stanley on the back of softer demand.
    On the other hand, Diamondback Energy rose 9.4% after announcing that it would acquire oil and gas producer Endeavor Energy Partners.
    Some 61 names in the S&P 500 are set to report earnings in the week ahead, including gig economy stocks Lyft, Instacart and DoorDash. Companies such as AutoNation, Kraft Heinz, Hasbro and Coca-Cola will also shed light on the state of the U.S. consumer.
    Prices for the 10-year Treasury sagged, raising yields to 4.19% from Friday’s 4.18%. Treasury prices and yields move in opposite directions.
    Oil prices were better by 17 cents to $77.01 U.S. a barrel.
    Gold prices lost $4.50 to $2,034.20.
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